BTIG Starts CIT Group (CIT) at Buy; A Number of Upcoming Catalysts Could Provide Boost
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Price: $53.50 --0%
Rating Summary:
12 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 6
Rating Summary:
12 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 6
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BTIG initiates coverage on CIT Group (NYSE: CIT) with a Buy. PT $44.00.
BTIG analyst says, "We believe CIT Group is making meaningful progress toward returning to its historic leadership role within the middle-market lending space and that management will continue to create value by executing on the company’s financial restructuring and reshaping its capital structure...Moreover, CIT’s $7.6bn in cash, its strong capital position (19.1% Tier 1 capital ratio), and its lack of meaningful debt maturities until 2015 provide investors with downside protection in the face of an uncertain economic outlook."
For an analyst ratings summary and ratings history on CIT Group click here. For more ratings news on CIT Group click here.
Shares of CIT Group closed at $34.15 yesterday.
BTIG analyst says, "We believe CIT Group is making meaningful progress toward returning to its historic leadership role within the middle-market lending space and that management will continue to create value by executing on the company’s financial restructuring and reshaping its capital structure...Moreover, CIT’s $7.6bn in cash, its strong capital position (19.1% Tier 1 capital ratio), and its lack of meaningful debt maturities until 2015 provide investors with downside protection in the face of an uncertain economic outlook."
For an analyst ratings summary and ratings history on CIT Group click here. For more ratings news on CIT Group click here.
Shares of CIT Group closed at $34.15 yesterday.
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