UBS Raises Ping An Good Doctor's Target Price to Reflect Long-Term Stablecoin/Cryptocurrency Opportunity

BlockBeats News, August 22: UBS released a research report stating that ZhongAn Online's after-tax net profit in the first half of the year increased 11 times year-on-year to 668 million RMB, reaching 68% of the market's full-year profit forecast for the company. The combined ratio improved by 2.3 percentage points to 95.6% compared to the same period last year, possibly exceeding market expectations. The insurance business has moved away from losses. Therefore, ZhongAn Online's target price has been raised from 13.1 Hong Kong dollars to 22.3 Hong Kong dollars to reflect the long-term stablecoin/cryptocurrency opportunity, policy benefits in the stock market, and rolling valuation (aastocks).