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Fly News Breaks for October 11, 2016
CIT
Oct 11, 2016 | 07:32 EDT
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.
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