UPDATE: Brean Murray Carret & Co. Lowers Sina's PT

According to a research report published this morning, Brean Murray Carret & Co. has lowered Sina's SINA PT from $92 to $82. In the report, Brean Murray Carret & Co. said, "SINA reported 1Q12 results with Non GAAP revenue of $101.5mm at the low end of its guidance and below expectations of $103.2mm. Brand advertising revenue saw a soft start (‐24.2% QoQ, +8.6% YoY), largely attributable to a slowdown in the IT, Telecom and Financial sectors partially offset by healthy growth from FMCG and Auto sectors. Non GAAP EPS came in at ‐$0.21, a smaller loss than consensus of ‐$0.23." Brean Murray Carret & Co. maintains its Buy rating on Sina, which closed yesterday at $51.68.