Brokerage Firm Rating Update on CIT Group Inc (DEL) (CIT)

CIT Group Inc (DEL) (CIT) : 6 brokerage houses believe that CIT Group Inc (DEL) (CIT) is a Strong Buy at current levels. 3 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on CIT Group Inc (DEL) (CIT). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 10 Wall Street Analysts endorse the stock as a Buy with a rating of 1.9.

CIT Group Inc (DEL) (CIT) has been rated by 10 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $65 and the lowest price target forecast is $33. The average forecast of all the analysts is $44 and the expected standard deviation is $10.23.


For the current week, the company shares have a recommendation consensus of Buy. Also, Equity analysts at the Brokerage firm Credit Suisse 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 Credit Suisse lowers the price target from $42 per share to $34.55 per share. The rating by the firm was issued on August 15, 2016.

CIT Group Inc (DEL) (NYSE:CIT): The stock opened at $35.6 and touched an intraday high of $36.315 on Wednesday. During the day, the stock corrected to an intraday low of $35.47, however, the bulls stepped in and pushed the price higher to close in the green at $36.23 with a gain of 1.43% for the day. The total traded volume for the day was 953,305. The stock had closed at $35.72 in the previous trading session.

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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