Citizens Highlights Positive Momentum at Pitney Bowes (PBI), Raises Price Target

Pitney Bowes Inc. (NYSE:PBI) is included among the 13 Best Dividend Stocks to Buy Under $25.

Citizens Highlights Positive Momentum at Pitney Bowes (PBI), Raises Price Target

On June 5, Citizens raised its price recommendation on Pitney Bowes Inc. (NYSE:PBI) to $19 from $17. It reiterated an Outperform rating on the shares. The firm said the increase reflects a “number of positive developments” since the company’s earnings call on May 6. In a research note, the analyst highlighted Fitch’s decision on May 13 to initiate coverage of Pitney Bowes’ debt with a BB- rating. That rating is one notch higher than those assigned by the other major ratings agencies.

Citizens believes the higher rating could help lower the company’s cost of capital over time. The firm also noted that Pitney Bowes extended the maturity of its term loan. At the same time, the US Postal Service proposed changes for presorted mail, including a 6.3% increase in the gap between five-digit volume pricing available to presort vendors such as Pitney Bowes and the three-digit spreads that some customers can achieve on their own.

Pitney Bowes Inc. (NYSE:PBI) is a technology-driven company that provides SaaS shipping solutions, mailing technology, and financial services to customers worldwide.

While we acknowledge the risk and potential of PBI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PBI and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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