Oppenheimer Resumes CNinsure Inc. (CISG) at Perform
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Price: $8.90 --0%
Rating Summary:
1 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 8
Rating Summary:
1 Buy, 3 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 8
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Oppenheimer resumes coverage on CNinsure Inc. (NASDAQ: CISG) with a Perform rating. The firm cut 2011-12E EPS to $1.06/$1.08 from the prior $1.22/$1.39 to factor in ongoing margin pressure and growth slowdown.
The firm comments, "While we believe the company is well positioned to benefit from the industry's gradual and healthy growth in the long term, we expect the stock to remain range-bound near term due to lack of fundamental strength, despite attractive valuation. As the non-binding going-private proposal received in May 2011 has been withdrawn, we are also moving to a Perform rating."
For an analyst ratings summary and ratings history on CNinsure Inc. click here. For more ratings news on CNinsure Inc. click here.
Shares of CNinsure Inc. closed at $8.50 yesterday.
The firm comments, "While we believe the company is well positioned to benefit from the industry's gradual and healthy growth in the long term, we expect the stock to remain range-bound near term due to lack of fundamental strength, despite attractive valuation. As the non-binding going-private proposal received in May 2011 has been withdrawn, we are also moving to a Perform rating."
For an analyst ratings summary and ratings history on CNinsure Inc. click here. For more ratings news on CNinsure Inc. click here.
Shares of CNinsure Inc. closed at $8.50 yesterday.
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