Morgan Stanley analyst Seyon Park raised the firm’s price target on Coupang to $27 from $26 and keeps an Overweight rating on the shares. The company’s Fair Trade Commission fine has been in focus in recent weeks, but this is now “backward-looking,” the analyst tells investors in a research note. The firm expects Coupang’s Q2 results to reflect an overall favorable operating environment. Operationally, it has “been a rather smooth quarter for eCommerce in Korea,” contends Morgan Stanley.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CPNG:
- Coupang Welcomes Asha Sharma to Board with Equity Incentive
- Unusually active option classes on open June 14th
- Coupang FTC fine may weigh on investor sentiment, says JPMorgan
- Coupang rebuts Korea’s decision to fine it for business practices, KT reports
- Analysts and Technical Indicators Agree: These 3 Stocks Are “Strong Buys” – 5/31/2024