Nomura Securities Maintains a 'Neutral' on CIT Group (CIT); FSA Hits Book Value

Nomura Securities maintains a 'Neutral' on CIT Group (NYSE: CIT) price target of $42.00.

Analyst, Bill Carcache, said, "To date, CIT has managed the speed of its high cost debt repayment such that the negative earnings impact of FSA accounting has been essentially offset by earnings growth, enabling the company to preserve its book value...We believe that CIT is on the path to earning its cost of capital over the coming quarters and expect the shares to continue to trade near tangible book value."

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 $38.74 yesterday.

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