UPDATE: CLSA Downgrades Waterdrop Inc (WDH) to Outperform (2)

December 2, 2021 6:16 AM EST
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Price: $1.38 --0%

Rating Summary:
    4 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 10 | New: 16
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(Updated - December 2, 2021 6:17 AM EST)

CLSA analyst Edwin Liu downgraded Waterdrop Inc (NYSE: WDH) from Buy (1) to Outperform (2) with a price target of $1.76 (from $7.00).

The analyst comments "Amid more regulatory scrutiny on online insurance, Waterdrop has changed its strategic focus from revenue to profit by spending less on customer acquisition via third-party channels. The company reported a slowdown in 3Q21 operating revenue, although net loss narrowed. We downgrade from BUY to Outperform, cut our target price from US$7.00 to US$1.76, and reduce our growth forecasts."

For an analyst ratings summary and ratings history on Waterdrop Inc click here. For more ratings news on Waterdrop Inc click here.

Shares of Waterdrop Inc closed at $1.43 yesterday.


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