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UPDATE: Morgan Stanley Upgrades CIT Group On Positive Merger Outlook

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The Key To Unlocking Shareholder Value At CIT Group
Earnings Scheduled For April 28, 2015

In a report released Monday, Morgan Stanley analyst Cheryl Pate upgraded CIT Group (NYSE: CIT) from Equal-Weight to Overweight and raised its price target from $46 to $57.

Analysts at Morgan Stanley favor CIT Group's announcement to acquire One West and believes shares have not fully priced in the possibility of improved funding structure and standardized capital base along with the merger.

CIT Group's $57 price target comes from an estimate 2016 EPS multiple of 13.1x.

Latest Ratings for CIT

DateFirmActionFromTo
Apr 2015BarclaysMaintainsEqual-weight
Apr 2015Keefe Bruyette & WoodsAssumesMarket Perform
Jan 2015CitigroupMaintainsBuy

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View the Latest Analyst Ratings

Posted-In: Cheryl Pate Morgan StanleyUpgrades Price Target Analyst Ratings

 

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