Piper Jaffray Remains Neutral After Spending Time With Pitney-Bowes (PBI)

Piper Jaffray maintains a Neutral rating and $25.00 price target on Pitney Bowes (NYSE: PBI) following recent travels with CEO Marc Lautenbach. Management indicates opportunity for increased use of web-based sales within the inside sales organization.

Analyst George Tong commented, "We have increased confidence in Pitney Bowes’ multi-year turnaround outlook following recent travels with President & CEO Marc Lautenbach and VP of IR Charles McBride. We identify attractive long-term drivers of revenue and margin improvement, including an emerging opportunity in web-based sales, increasing leverage of the SMB sales channel to drive sell-through of digital commerce solutions, and favorable progress in PBI’s ERP implementation. We maintain our Neutral rating for now as we believe we remain in the early innings of a multi-year turnaround; however, we find the risk/reward of the shares increasingly attractive."

For an analyst ratings summary and ratings history on Pitney Bowes click here. For more ratings news on Pitney Bowes click here.

Shares of Pitney Bowes closed at $21.88 yesterday.

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