Pitney Bowes price target raised to $13.70 from $12 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Pitney Bowes (PBI) to $13.70 from $12 and keeps a Neutral rating on the shares. Pitney Bowes reported a 3% year-over-year revenue decline in Q1, an improvement from the prior quarter, supported by stronger SendTech performance and competitive gains in Presort driven by improved sales execution and retention, the analyst tells investors in a research note. Despite the revenue decline, operating margins expanded significantly due to cost controls, and the 2026 outlook was modestly raised, with a smaller expected revenue decline and less margin pressure than previously forecast, the firm says.