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CIT

CIT Group

$36.76

-0.17 (-0.46%)

07:32
10/11/16
10/11
07:32
10/11/16
07:32

CIT Group upgraded to Neutral on value creation at BofA/Merrill

As previously reported, BofA/Merrill analyst Derek Hewett upgraded CIT Group to Neutral and raised its price target to $39 from $33. The analyst said CIT has made significant progress simplifying the balance sheet and unlocking value following the $10B sale of its commercial aircraft leading business. Hewett expects valuation to improve given improved earnings and capital returns visibility.

CIT CIT Group
$36.76

-0.17 (-0.46%)

10/07/16
STFL
10/07/16
DOWNGRADE
STFL
Hold
CIT Group downgraded to Hold from Buy at Stifel
10/07/16
STFL
10/07/16
DOWNGRADE
STFL
Hold
CIT Group downgraded at Stifel
As noted earlier, Stifel downgraded CIT to Hold from Buy. Analyst Christopher Brendler says that investors should sell into the rally that will result from the "impressive" price that the company received for its aircraft business and the approval of its capital plan by the Fed. The analyst says he is "skeptical" about the company's remaining business, while the company's planned share buyback will take time to materialize. Target to $41 from $40.
10/07/16
10/07/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Tyson Foods (TSN) downgraded to Sell from Hold at Pivotal Research with analyst Timothy Ramey citing the broiler price-fixing alleged in the class action complaint filed on September 2. 2. SolarEdge (SEDG) was downgraded to Sell from Neutral at Goldman while the firm also downgraded First Solar (FSLR) to Neutral from Buy. 3. CIT Group (CIT) downgraded to Hold from Buy at Stifel with analyst Christopher Brendler saying investors should sell into the rally that will result from the "impressive" price that the company received for its aircraft business and the approval of its capital plan by the Fed. 4. Fifth Third (FITB) downgraded to Hold from Buy at Jefferies with analyst Ken Usdin saying the shares are reasonably valued following the recent rally. 5. Blackhawk (HAWK) downgraded to Neutral from Buy at BofA/Merrill with analyst David Chu saying the firm's channel checks indicate that conversions to EMV, the new standard for chip-based debit/credit card transactions, are taking longer than expected, which he believes could impact Blackhawk's 2016 guidance and expectations for 2017. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/11/16
BOFA
10/11/16
UPGRADE
BOFA
Neutral
CIT Group upgraded to Neutral from Underperform at BofA/Merrill

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Altice USA

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NBRV

Nabriva Therapeutics

$10.50

1.19 (12.78%)

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Wix.com

$72.80

0.5 (0.69%)

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  • 28

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OCLR

Oclaro

$9.44

-0.1 (-1.05%)

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ACIA

Acacia Communications

$41.64

0.65 (1.59%)

20:19
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LITE

Lumentum

$62.45

-0.05 (-0.08%)

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  • 22

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LEJU

Leju

$2.46

0.07 (2.93%)

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GCP

GCP Applied Technologies

$30.40

0.3 (1.00%)

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PHM

PulteGroup

$24.04

-0.24 (-0.99%)

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DHI

D.R. Horton

$33.47

-0.5 (-1.47%)

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CAA

CalAtlantic

$34.80

-0.34 (-0.97%)

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BZH

Beazer Homes

$13.01

0.03 (0.23%)

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MTH

Meritage Homes

$40.40

-0.4 (-0.98%)

19:57
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TOL

Toll Brothers

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LEN

Lennar

$52.41

-0.84 (-1.58%)

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KBH

KB Home

$22.23

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MHK

Mohawk

$242.70

-0.22 (-0.09%)

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FBHS

Fortune Brands

$65.09

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JELD

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$34.60

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IBP

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$52.75

-1 (-1.86%)

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OC

Owens Corning

$66.42

-0.85 (-1.26%)

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WHR

Whirlpool

$195.16

1.35 (0.70%)

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MAS

Masco

$38.82

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