CIT Group (CIT +2.1%) is upgraded to Buy at Drexel Hamilton thanks to the company having $2B now...

|About: CIT Group Inc. (CIT)|By:, SA News Editor

CIT Group (CIT +2.1%) is upgraded to Buy at Drexel Hamilton thanks to the company having $2B now available to return to shareholders after the lapsing of its agreement with the Fed. A$200M buyback has already been announced and analyst David Hilder sees a payout ratio of more than 50% over time.