CIT Group Inc (DEL) (CIT) : Analyst Rating Update

CIT Group Inc (DEL) (CIT) : The consensus on CIT Group Inc (DEL) (CIT) based on 11 analyst recommendation on the company stock is 2, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 4 which endorses a Sell on the stock. However, 6 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 4 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on CIT Group Inc (DEL) (CIT).

CIT Group Inc (DEL) (CIT) : The highest level CIT Group Inc (DEL) (CIT) is projected to reach is $65 for the short term and the lowest estimate is at $33. The consolidated price target from 11 rating analysts who initiate coverage on the stock is $43.46 and the possibility the share price can swing is $9.73.

CIT Group Inc (DEL) (NYSE:CIT): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $30.31 and $30.00 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $30.95. The buying momentum continued till the end and the stock did not give up its gains. It closed at $30.80, notching a gain of 0.46% for the day. The total traded volume was 1,334,778 . The stock had closed at $30.66 on the previous day.

Also, Equity Analysts at the Nomura maintains the rating on CIT Group Inc (DEL) (NYSE:CIT). The brokerage firm has issued a Neutral rating on the shares. The Analysts at the ratings agency raises the price target from $29 per share to $33 per share. The rating by the firm was issued on May 3, 2016. The company shares have dropped -34.11% from its 1 Year high price. On Jul 21, 2015, the shares registered one year high at $49.27 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $32.27 and the 200 Day Moving Average price is recorded at $32.49.

CIT Group Inc. is a bank holding company (BHC), which provides financing, leasing and advisory services principally to middle market companies. The Company operates in two segments: Transportation and International Finance (TIF), provider of leasing and financing solutions to operators and suppliers in the global aviation and railcar industries, and North American Commercial Finance (NACF)., which consists of four divisions: Commercial Services, Corporate Finance, Equipment Finance and Real Estate Finance. Commercial Services provides factoring, receivable management products, and secured financing to businesses. Corporate Finance provides a range of financing options and offers advisory services to small and medium size companies. Equipment Finance provides leasing and equipment loan solutions to small businesses and middle market companies. Real Estate Finance provides senior secured commercial real estate loans to developers and other commercial real estate professionals.

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