PBI: Net Positive For Both Long And Short Term

Analysts at Brean Murray reiterate their "buy" rating on Pitney Bowes Inc PBI. The target price for PBI is set to $30. Although Pitney Bowes has not changed its 2010 guidance, it has decided to expand its buyback to $150 million, which will be complete over the next 12 to 18 months. PBI is also planning to introduce a long-term model, “calling for 2%-5% revenue growth and 6%-8% EBIT growth. This suggests 2012 EPS of ~$3.10 if we simply “play it through” the income statement.” “Pitney believes the introduction of new value-added services (aimed at both SMB and enterprise) will provide the fuel for growth in coming years. Essentially we’re likely on the cusp of Pitney beginning to drive a business model move towards services stickiness and away from hardware,” the analysts mention. More Analyst Ratings here