Barclays Reiterates an 'Equalweight' on CIT Group (CIT); Adjusting Estimates on Debt Redemptions and Issue
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Price: $53.50 --0%
Rating Summary:
12 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 9
Rating Summary:
12 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 16 | New: 9
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Barclays reiterates an 'Equalweight' on CIT Group (NYSE: CIT) price target of $41.00.
Analyst, Mark C. DeVries, said, "Following CIT's recent debt redemptions and issuance, we are updating our full-year 2012-14 GAAP EPS estimates to -$3.31, $3.51 and $3.95 and our core EPS estimates to $0.80 $1.56 and $2.36 respectively. Overall, the timing of the remaining Series C debt redemptions was slightly faster than we had modeled, though the amount of new debt issued was also slightly higher than our previous assumptions, with a limited net effect on our net finance margin estimates."
DeVries feels the next catalyst from the company/stock in the next few months could be the Fed lifting CIT's Written Agreement or amending/replacing it with a
Memorandum of Understanding.
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 $38.53 yesterday.
Analyst, Mark C. DeVries, said, "Following CIT's recent debt redemptions and issuance, we are updating our full-year 2012-14 GAAP EPS estimates to -$3.31, $3.51 and $3.95 and our core EPS estimates to $0.80 $1.56 and $2.36 respectively. Overall, the timing of the remaining Series C debt redemptions was slightly faster than we had modeled, though the amount of new debt issued was also slightly higher than our previous assumptions, with a limited net effect on our net finance margin estimates."
DeVries feels the next catalyst from the company/stock in the next few months could be the Fed lifting CIT's Written Agreement or amending/replacing it with a
Memorandum of Understanding.
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 $38.53 yesterday.
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