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Stifel reported on CIT Group (NYSE:CIT), raising its target price to $41.00 today

CIT Group (NYSE:CIT) had its target price raised to $41.00 by Stifel in a report released 10/7/2016. The new target price indicates a possible upside of 0.13% based on the company's last stock close price.

Previously on 9/28/2016, Zacks Investment Research reported about CIT Group (NYSE:CIT) raised the target price from $0.00 to $40.00. At the time, this indicated a possible upside of 0.12%.

Yesterday CIT Group (NYSE:CIT) traded 0.39% higher at $36.40. The company’s 50-day moving average is $35.90 and its 200-day moving average is $33.74. The last stock close price is up 7.89% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 1,021,804 shares of the stock were exchanged, down from an average trading volume of 1,468,190

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CIT Group has a 52 week low of $25.19 and a 52 week high of $46.51 with a P/E ratio of 7.27 The company’s market cap is currently $0.

In addition to Stifel reporting its stock price target, a total of 18 brokerages have issued a ratings update on the stock. The consensus target price is $41.83 with five analysts rating the company a strong buy, five brokerages rating the company a buy, 10 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.

Brief Synopsis 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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