Pitney Bowes Announces Third Quarter 2016 Financial Results

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Go back to Pitney Bowes Announces Third Quarter 2016 Financial Results

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