Pitney Bowes and RCG Global Services Join Forces to Deliver Fraud Detection Services

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Go back to Pitney Bowes and RCG Global Services Join Forces to Deliver Fraud Detection Services

Brean Capital Reiterates Buy on Pitney Bowes (PBI) Following Earnings Report and Sell Off

November 2, 2016 10:46 AM EDT

Brean Capital maintained a Buy rating on Pitney Bowes (NYSE: PBI), and cut the price target to $20.00 (from $24.00), following the company's earnings report and recent sell-off (18%). PBI reported revenue and EPS of $839M and $0.44, both missing the Street's estimates of $856M and $0.46, respectively.

Analyst Ananda Baruah commented, "We believe that the biggest reason the stock was off so dramatically yesterday (18%) is because... More