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UPDATE: Morgan Stanley Upgrades CIT Group On Positive Merger Outlook

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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
Nov 2020BMO CapitalDowngradesOutperformMarket Perform
Aug 2020Morgan StanleyMaintainsEqual-Weight
Jul 2020CitigroupMaintainsBuy

View More Analyst Ratings for CIT
View the Latest Analyst Ratings

 

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

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