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Fly News Breaks for October 22, 2015
CIT
Oct 22, 2015 | 08:08 EDT
After CIT announced the retirement of its CEO and several major divestitures including the sale of its aircraft leasing unit, Stifel believes that the sale of the leasing unit was "probably long overdue." The firm thinks that the company's multiple could rise going forward, but warns that the company may have difficulty unlocking shareholder value in the near-term. It keeps a $52 price target and Buy rating.
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