Piper Jaffray Reiterates Overweight on CNinsure Inc. (CISG)

Piper Jaffray is out with a research report this morning, where it reiterates its Overweight rating on CNinsure Inc. CISG; it also raised its price target on the stock to $33.00, from $29.00. The PJ analysts cited the company’s recent earnings report, which was better than expected due to better margins, higher investment income and a lower than forecasted tax-rate as top-line numbers slightly missed expectations. The analysts added that they see significant upside in the upcoming quarter, noting that they believe management possesses the platform necessary to achieve CAGR of at least 30% in both top and bottom lines.