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Fly News Breaks for March 28, 2016
CIT
Mar 28, 2016 | 08:52 EDT
As noted earlier, Sterne Agee CRT downgraded CIT Group to Neutral from Buy. As reasons for the downgrade, the firm cited several factors, including the company's admission that it will need more time than expected to achieve its targeted profitability. The firm also cited the higher than expected cost of the spin off of the compsny's air leasing business and its belief that the company's ROE is below that of its peers. Target $37.
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