CIT Group (CIT +1.8%) could be worth $60-$70 per share in a merger, says Sterne Agee, based on...

CIT Group (CIT +1.8%) could be worth $60-$70 per share in a merger, says Sterne Agee, based on what CapitalSource (CSE +20.9%) obtained last night in its sale to PacWest (PACW +6.5%). The CSE deal is an interesting blueprint for catalyzing more M&A activity, says Hedgeye's Josh Steiner, noting earnings accretion of 9.4% in 2014 and 18% in 2015 (investor presentation). "Win/Win." Indeed.