Brean Murray Carret Raises Price Target on eLong (LONG) Following Q4 Results

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February 24, 2012 10:08 AM EST
Get Alerts LONG Hot Sheet
Price: $18.00 --0%

Rating Summary:
    1 Buy, 2 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 26
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Brean Murray Carret & Co. is reaffirming its Buy rating on eLong (NASDAQ: LONG) and is lifting its price target from $20 to $22.

The company's Q4 results and Q1 guidance were both both inline with expectations. The firm notes looking ahead it anticipates a "higher commitment from both LONG and Tencent in driving up travel growth in 2012. Management seems to have a game plan mapped out for the year."

The firm also believes this mapped out plan will help accelerate its new customer acquisitions.

For FY12 and FY13, the firm forecasts EPS will total $0.51 and $0.72.

For an analyst ratings summary and ratings history on eLong click here. For more ratings news on eLong click here.

Shares of eLong closed at $18.23 yesterday.

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