2024-07-08 05:02:36 ET
Summary
- 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.
Introduction to Pitney Bowes
Read the full article on Seeking Alpha
For further details see:
Pitney Bowes: When Less Is More