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$23.55 -1.93 (-7.57%)
10/10/2008 4:08 PM

Pitney Bowes, Inc. (PBI)

CAPS Rating:
**

The Company is a provider of mail processing equipment and integrated mail solutions in the world. It offers a full suite of equipment, supplies, software and services for end-to-end mailstream solutions.

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Avatar kahunacfa (< 20) Submitted: 2/28/08 11:42 AM : Outperform Start Price: $35.93 PBI Score: 0.83

Pitney Bowes is a high quality company which is the world's largest manufacturer of postage meters and other mailing equipment. This equipment is not sold it is leased. The leased equipment generates a high quality, recession resistant recurring revenue stream.





The shares, currently trading at about $36.80 have an Intrinsic Value of $47 - $49 per share. These shares are an undervalued, defensive BUY in my opinion - even in the current BEAR Market.





Kahuna,CFA





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