CIT Group (CIT) NewsBite - CIT Downgraded By Credit Suisse

Posted: Friday, April 24, 2009 1:12 PM EDT

CIT Group (CIT) was downgraded today by analysts at Credit Suisse and the stock is now at $2.42, down $0.36 (-12.95%) on volume of 37,921,628 shares traded. The analysts downgraded CIT to Neutral from Outperform. Over the last 52 weeks the stock has ranged from a low of $1.65 to a high of $13.26. CIT Group stock has been showing support around $2.13 and resistance in the $3.77 range. Technical indicators for the stock are neutral and S&P gives CIT a neutral 3 STARS (out of 5) hold ranking. We will just watch this one for now. There are no hedged trades we like the look of for CIT. [ABR-Seven Summits Strategic Investments NewsBite]

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