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Fly News Breaks for November 2, 2016
PBI
Nov 2, 2016 | 07:27 EDT
Brean Capital analyst Ananda Baruah said structural changes at Pitney Bowes impacted the timing of payments for its Finance business, causing a miss of quarterly estimates. The analyst said the company believes they will exit the December quarter having resolved the Financing issue and earnings will become more stabilized. Baruah maintained his Buy rating but lowered his price target to $20 from $24 on Pitney Bowes shares.
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