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CIT

CIT Group

$53.03

3.01 (6.02%)

07:34
04/24/19
04/24
07:34
04/24/19
07:34

CIT Group price target raised to $71 from $63 at Oppenheimer

Oppenheimer analyst Chris Kotowski raised his price target for CIT Group to $71 from $63 on higher earnings and a higher market multiple. The analyst notes that the first-quarter had "no noteworthy items" for the first time in memory. He reiterates an Outperform rating on the shares.

  • 14

    May

CIT CIT Group
$53.03

3.01 (6.02%)

01/04/19
OPCO
01/04/19
NO CHANGE
OPCO
Outperform
Oppenheimer sees 'poor' quarter for banks' capital markets businesses
Oppenheimer analyst Chris Kotowski previewed the Q4 outlook for financial institutions, telling investors in a research note that the significant market volatility in December suggests a poor quarter for the banks' capital markets businesses which are likely to persist into 1H19, adding that the weaker equity markets will likely limit ECM revenues. Kotowski says he believes the less banks pay for their shares in the current market turmoil, the more the stocks are worth in the long run. He continue to recommend Bank of America (BAC), Citi (C), CIT Group (CIT), Goldman Sachs (GS), Morgan Stanley (MS) and US Bancorp (USB).
01/09/19
UBSW
01/09/19
UPGRADE
Target $51
UBSW
Buy
CIT Group upgraded to Buy from Neutral at UBS
UBS analyst Eric Wasserstrom upgraded CIT Group to Buy with an unchanged price target of $51. The analyst believes CIT is nearing the end of several years of repositioning of its balance sheet, business mix, and cost base. This will result in improving return on average tangible common shareholders' equity from ~8% this year to ~10% in 2020, Wasserstrom tells investors in a research note. Further, he views the current valuation as compressed.
01/25/19
OPCO
01/25/19
NO CHANGE
OPCO
Outperform
Bank stocks still 'resoundingly cheap,' says Oppenheimer
Oppenheimer analyst Chris Kotowski told investors in a research note that one reason he is so "incessantly bullish" on bank stocks is that investors "still so incessantly hate them." The stocks still remain resoundingly cheap at a 63% relative P/E multiple even though bank balance sheets are arguably the best they have ever been, and the business models decidedly less capital-intensive, he contends. He continues to recommend Outperform-rated Bank of America (BAC), CIT (CIT), Citi (C), Goldman (GS), Jefferies (JEF), Morgan Stanley (MS) and U.S. Bancorp (USB).
01/30/19
OPCO
01/30/19
NO CHANGE
Target $61
OPCO
Outperform
CIT Group price target raised to $61 from $49 at Oppenheimer
Oppenheimer analyst Chris Kotowski raised his price target for CIT Group to $61 from $49 following better than expected quarterly results. The analyst reiterates an Outperform rating on the shares.

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