Goldman Sachs Raises Pitney Bowes (PBI) Price Target after Margin Expansion in Q1

With YTD returns of 36.9% as of May 5, Pitney Bowes Inc. (NYSE:PBI) is included among the 10 Best Performing Dividend Stocks So Far in 2026.

Goldman Sachs Raises Pitney Bowes (PBI) Price Target after Margin Expansion in Q1

On April 24, Goldman Sachs raised its price recommendation on Pitney Bowes Inc. (NYSE:PBI) to $13.70 from $12. It reiterated a Neutral rating on the shares. The firm noted that Pitney Bowes reported a 3% year-over-year revenue decline in Q1, though that marked an improvement from the previous quarter. The results were supported by stronger performance in SendTech and competitive gains in Presort, helped by better sales execution and customer retention, the analyst said in a research note.

Despite the drop in revenue, operating margins expanded sharply because of cost controls. Goldman Sachs also modestly raised its 2026 outlook, now expecting a smaller revenue decline and less pressure on margins than previously forecast.

On April 22, Citizens raised its price goal on Pitney Bowes to $17 from $14. It maintained an Outperform rating on the shares. The firm said Pitney Bowes continues to benefit from improving execution under CEO Kurt Wolf. According to the analyst, the company is seeing strength across its core segments, while higher guidance and its market position could support stronger pricing power over time. Citizens also pointed to several additional tailwinds. These include easing headwinds in 2026, aggressive share and debt repurchases that could improve per-share value, and what the firm described as strong alignment between management and shareholders. The analyst said these factors reinforce confidence in further upside for the stock.

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

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