Brean Murray Carret Lowers Price Target On CNinsure

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.