---
title: "Goldman Sachs: Raises Ping An's target price to HKD 64, maintains \"Buy\" rating"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/263415428.md"
description: "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%"
datetime: "2025-10-30T03:07:04.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/263415428.md)
  - [en](https://longbridge.com/en/news/263415428.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/263415428.md)
---

# Goldman Sachs: Raises Ping An's target price to HKD 64, maintains "Buy" rating

According to the Zhitong Finance APP, Goldman Sachs has released a research report stating that it has slightly raised the target price for Ping An Insurance (02318) H-shares by 1.6%, from HKD 63 to HKD 64, while also slightly raising the target price for its A-shares, maintaining a "Buy" rating for both.

Goldman Sachs updated its forecasts for Ping An to reflect the performance for the third quarter of 2025 and the updated predictions. After considering the performance for the third quarter of 2025 and the latest investment market performance, Goldman Sachs raised its net profit expectations for the fiscal years 2025-2027 by 3-19%. This corresponds to an increase of 2-3% in the forecast for shareholder equity at the group level for the fiscal years 2025-2027. Additionally, reflecting the strong sales performance in the third quarter of 2025, the forecast for first-year premiums for the fiscal years 2025-2027 was raised by 5-9%, and the expected value of new business (VONB) for the fiscal years 2025-2027 was also raised by 5-9%.

Ping An's third-quarter performance was generally better than Goldman Sachs and market expectations, indicating: 1) significant growth in stock investment income; 2) strong momentum in new policy sales; 3) a substantial reduction in losses from asset management operations. Goldman Sachs expects the stock price to respond positively to this. Ping An's after-tax operating profit (OPAT) for the third quarter increased by 9% year-on-year to RMB 38.5 billion, with life insurance profits exceeding expectations and strong growth momentum in sales and new business value

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