Market Overview

UPDATE: Morgan Stanley Upgrades CIT Group On Positive Merger Outlook

Related CIT
BMO's Top 10 Topics For Large-Cap Financials This Earnings Season
CIT Orders Five Additional A321ceo Aircraft

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

Jan 2015CitigroupMaintainsBuy
Oct 2014MacquarieUpgradesUnderperformNeutral
Aug 2014Credit SuisseMaintainsNeutral

View More Analyst Ratings for CIT
View the Latest Analyst Ratings

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


Related Articles (CIT)

Around the Web, We're Loving...