Morgan Stanley analyst Ken Zerbe maintained a Hold rating on CIT Group (CIT) today and set a price target of $52. The company’s shares closed yesterday at $43.37, close to its 52-week low of $42.63.
According to TipRanks.com, Zerbe is a 4-star analyst with an average return of 9.9% and a 60.0% success rate. Zerbe covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Huntington Bancshares Inc, and People’s United Financial.
The word on The Street in general, suggests a Hold analyst consensus rating for CIT Group with a $53.17 average price target, a 22.6% upside from current levels. In a report released yesterday, Credit Suisse also maintained a Hold rating on the stock with a $56 price target.
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CIT Group’s market cap is currently $4.8B and has a P/E ratio of 19.55. The company has a Price to Book ratio of 0.80.
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CIT Group, Inc. is a financial holding company, which provides financing, leasing and advisory services. It operates through the following business segments: Commercial Banking, Consumer Banking and Non-Strategic Portfolios. The Commercial Banking segment consists of four divisions, commercial finance, rail, real estate finance and business capital.
