CIT Group Inc (DEL) (CIT): Price Target and June Short Interest Disclosure

CIT Group Inc (DEL) (CIT) : The most positive equity analysts on CIT Group Inc (DEL) (CIT) expects the shares to touch $65, whereas, the least positive believes that the stock will trade at $33 in the short term. The company is covered by 11 Wall Street Brokerage Firms. The average price target for shares are $43.46 with an expected fluctuation of $9.73 from the mean.

CIT Group Inc (DEL) (CIT) encountered a rise of 1% or 75,847 shares in the short positions. The number escalated from 7,445,627 on June 15,2016 to 7,521,474 on June 30,2016. The final interest is 3.9% of the floated stock. The days to cover figure of 4 can be arrived using the average daily exchange of 2,065,370 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Equity analysts at the Brokerage firm Nomura maintains its rating on CIT Group Inc (DEL) (NYSE:CIT). The rating major has initiated the coverage with neutral rating on the shares. The Analysts at Nomura raises the price target from $29 per share to $33 per share. The rating by the firm was issued on May 3, 2016.


CIT Group Inc (DEL) (NYSE:CIT): stock turned positive on Thursday. Though the stock opened at $34.65, the bulls momentum made the stock top out at $34.93 level for the day. The stock recorded a low of $34.26 and closed the trading day at $34.34, in the green by 1.00%. The total traded volume for the day was 2,614,605. The stock had closed at $34 in the previous days trading.

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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