Goldman Sachs: Raises Ping An's target price to HKD 64, maintains "Buy" rating
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Goldman Sachs raised the target price for Ping An to HKD 64, maintaining a "Buy" rating. In the third quarter, Ping An's after-tax operating profit increased by 9% year-on-year to RMB 38.5 billion, with life insurance profits exceeding expectations and strong momentum in sales and new business value growth. Goldman Sachs updated its forecasts, raising the expected net profit for the fiscal years 2025-2027 by 3-19%, and increasing the expectations for first-year premiums and new business value by 5-9%
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