Pitney Bowes (PBI) Gets a Buy Rating from Ladenburg

By Jason Carr

Ladenburg analyst Glenn G Mattson reiterated a Buy rating on Pitney Bowes (NYSE: PBI) on November 2 and set a price target of $16. The company’s shares closed on Friday at $8.09.

G Mattson noted:

“We think this is sustainable built on a shift toward shipping. For instance, in the quarter organic Ecommerce growth of 10% far outpaced the declines in SMB 3%.”

According to TipRanks.com, Mattson is a 4-star analyst with an average return of 10.2% and a 49.1% success rate. Mattson covers the Technology sector, focusing on stocks such as Brightcove Inc, Datawatch Corp, and Attunity Ltd.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pitney Bowes with a $14 average price target, implying a 73.1% upside from current levels. In a report issued on November 2, Maxim Group also maintained a Buy rating on the stock with a $12 price target.

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The company has a one-year high of $14.80 and a one-year low of $6.43. Currently, Pitney Bowes has an average volume of 2.47M.

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Pitney Bowes, Inc. is a technology company which engages in the provision of products and solutions in the commerce industry. It offers information management, location intelligence, and customer engagement products and solutions and also provides shipping, mailing, fulfillment, returns and cross-border ecommerce products and solutions that enable the sending of parcels and packages across the globe. The company operates through the following segments: Small and Medium Business Solutions, Enterprise Business Solutions, and Digital Commerce Solutions. The Small and Medium Business Solutions segment provides equipment, software, supplies, and services that enable its customers to efficiently create physical and digital mail and evidence postage for the sending of mail, flats and parcels. The Enterprise Business Solutions segment includes equipment and services that enable large enterprises to process inbound and outbound mail. It includes the production mail operations and presort services operations. The Digital Commerce Solutions offers customer information management, location intelligence and customer engagement software, and shipping management and cross border ecommerce solutions for businesses of all sizes. Its solutions are delivered as traditional software licenses, enterprise platforms, software-as-a-service, and on-demand applications. Pitney Bowes was founded by Arthur H. Pitney and Walter Bowes on April 23, 1920 and is headquartered in Stamford, CT.