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Pitney Bowes is preparing to divest or shut down its unprofitable GEC division. This should immediately add $136m in adjusted EBIT on an annual basis.
There are hidden growth opportunities within the remaining company, such as smart Parcel Lockers and digital SaaS tools, which seem to be ignored by the market.
PBI recently increased identified cost-savings from $80m to $140m. It also plans to free up $200m in cash to (likely) pay down highly yielding debt.
When all is said and done, according to our estimation, the stock should trade at $12 per share within 12 months.