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CIT Group (NYSE:CIT) has been upgraded from Underperform to Neutral in a statement by BofA Merrill earlier today.

BofA Merrill has upgraded CIT Group (NYSE:CIT) from Underperform to Neutral in a statement released on Tuesday October 11, 2016.

On Friday October 07, 2016, Stifel Nicolaus released a statement about CIT Group (NYSE:CIT) upped the target price from $40.00 to $41.00 that suggested an upside of 0.13%.

Having a price of $36.76, CIT Group (NYSE:CIT) traded 0.14% higher on the day. With the last close up 8.99% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the same period. CIT has recorded a 50-day moving average of $35.95 and a 200-day moving average of $33.77. 586,064 shares of CIT traded hands, down from an average trading volume of 1,601,820

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CIT Group has 52 week low of $25.19 and a 52 week high of $46.51 with a PE ratio of 7.35 and has a market capitalization of $0.

In addition to BofA Merrill reporting its target price, a total of 18 firms have reported on the stock. The consensus target price is $41.83 with 5 firms rating the stock a strong buy, 5 firms rating the stock a buy, 10 firms rating the stock a hold, 0 firms rating the stock a underperform, and finally 0 firms rating the stock a sell.

General Information About CIT Group (NYSE:CIT)

CIT Group Inc. (CIT) is a bank holding company. The Company, together with its subsidiaries, provides financing, leasing and advisory services to middle market companies in a range of industries in North America, and equipment financing and leasing solutions to the transportation industry around the world. The Company's segments include North America Banking (NAB), including Commercial Real Estate, Commercial Banking and Consumer Banking divisions; Transportation & International Finance (TIF), including Aerospace, Rail, Maritime Finance and International Finance divisions, and Legacy Consumer Mortgages (LCM), which includes single-family residential mortgage (SFR) loans and reverse mortgage loans. CIT products and services include account receivables collection; equipment leases; acquisition and expansion financing; factoring services; financial risk management; asset management and servicing; asset-based loans; insurance services; credit protection; debt restructuring, and deposits.

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