Shares of WW International, formerly Weight Watchers (WW) have been battered for some time now, even after accounting for a 25% rise from lows recently. It’s a value stock. No, don’t leave. Stay with me here. I realize that currently most investors would prefer a hot poker in the eye to a value stock. I get it. Nevertheless, WW’s stock could offer a healthy (sorry had to say it) return if things continue to improve as they have lately. In Wall Streetese WW looks to have more upside than downside.

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Why is the stock not liked? It’s viewed by some as an oldfashioned “diet” company, when these days people lose weight with apps, DYI websites, and electronic wrist devices. The latest popular method is the Ketogenic diet, effectively yet another low-carb diet. To me it seems like just another fad, whereas WW has stood the test of time. The shorts are all over WW, with 10 million of the 67 million shares old short. They are comparing WW to Kodak.

The analyst at JP Morgan, previously a big fan, “threw in the towel” on WW back in January, moving it to “Neutral” rating from a “Buy.” Indeed, of the 14 brokerage analysts who follow it, only 2 have Buy ratings. That kind of lopsided sentiment makes me take notice. When Wall Street leans hard one way on a stock...

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