According to Brean Murray Carret, CNinsure CISG target price is lowered to $19.
Brean Murray Carret said that there were no surprises with the 1Q11 results. “Revenue came in at RMB314 million (+28% YoY). Net income from continuing operation was RMB80 million, implying YoY growth of 36.4%.”
CNinsure closed yesterday at $15.89.
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