Pitney Bowes, the Industrials sector company, was revisited by a Wall Street analyst yesterday. Analyst George Tong from Goldman Sachs maintained a Hold rating on the stock and has a $12.00 price target.
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George Tong has given his Hold rating due to a combination of factors, including Pitney Bowes’ better‑than‑expected first‑quarter performance and ongoing revenue pressures. The company delivered revenue, margins, and EPS ahead of consensus, with SendTech showing improving trends and Presort benefiting from competitive wins, and margins expanding meaningfully on the back of cost controls.
At the same time, overall sales still declined year over year, and the updated full‑year outlook continues to point to a revenue contraction and only modest margin compression, signaling that growth remains challenged. Tong also notes that investors will be watching execution on initiatives to deepen wallet share in SendTech, reignite leasing and financing growth, capture additional Presort share, and clarify capital allocation and strategic review outcomes before a more constructive stance is warranted.
PBI’s price has also changed moderately for the past six months – from $11.680 to $14.630, which is a 25.26% increase.