International media firm Tarsus Group has had a "positive" start to the year, in line with expectations, with forward bookings already standing at 75% of anticipated full year revenues, up from 67% at the same time last year.The group - which specialises in exhibitions, conferences and online media - has also appointed a new finance director, Dan O'Brien, citing his "international and acquisition experience" as important as it looks to build its emerging markets business."Activity in the exhibition market generally is picking up and we are seeing an increase in mergers and acquisitions (M&A) opportunities which fit our criteria," the group said.Peel Hunt analyst Malcolm Morgan said that increasing M&A aspirations - "combined with increasing visibility on full-year numbers" - have prompted the broker to raise the target price on Tarsus by 20p.Nevertheless, Peel Hunt downgraded Tarsus to a 'hold', from 'buy', with Morgan saying "the movement in the shares ahead of today's new suggests this leaves only 6% upside ahead of any corporate activity."US trading is progressing well, with the February 2011 Off-Price Show in Las Vegas growing revenues by 10% on last year. Meanwhile, the Medical division has "demonstrated good growth" and continues to increase revenues at a double digit rate.However, Peel Hunt highlights that the smaller shows in France are still "lacklustre".---BC