UPDATE: Morgan Stanley Reiterates Overweight Rating, Raises PT on CNinsure Inc. on Strong Results

In a report published Wednesday, Morgan Stanley analyst Jenny Jiang reiterated an Overweight rating on

, and raised the price target from $9.00 to $10.00. In the report, Morgan Stanley noted, "CISG showed a clear recovery in its traditional channels. Execution on its O2O strategy is also on track. With better alignment of shareholder and management interests, we are increasingly positive on its outlook." CNinsure Inc. closed on Tuesday at $8.22.