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CIT Group Up 0.1% Since BofA/Merrill Upgraded One Week Ago (CIT)

By Amy Schwartz

One week ago CIT Group (NYSE:CIT) was upgraded from Underperform to Neutral at BofA/Merrill. CIT Group shares are selling at $36.62, 0.1% above the $36.57 price point of one week ago.

CIT Group (NYSE:CIT) has potential upside of 41.7% based on a current price of $36.62 and analysts' consensus price target of $51.89. The stock should find resistance at its 200-day moving average (MA) of $38.17, as well as support at its 50-day MA of $32.61.

SmarTrend recommended that subscribers consider buying shares of CIT Group on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $33.00. Since that recommendation, shares of CIT Group have risen 9.4%. We continue to monitor CIT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst reflections CIT Group

Ticker(s): CIT