Brean Murray Carret & Co. Maintains Buy Rating On China Information Security Technology (CPBY)

China Information Security Technology CPBY reported earnings per share of $0.12 compared to analysts' estimates of $0.10 yesterday. Revenues increased 68.9% year-over-year to $25.3 million. In a report released today, Brean Murray Carret & Co. said that they are raising estimates after CPBY management upped their forward looking guidance. The firm said that "our estimated revenue and pro forma net income have increased to $145.3 million and $38.2 million from $137.4 million and $37.4 million, respectively. Brean Murray & Carret analysts reiterated their BUY rating and 12 month price target of $10 on the stock. During today's trading session, CPBY shares have lost 4.19% to $5.51.