Coupang price target raised to $31 from $26 at UBS

UBS raised the firm’s price target on Coupang (CPNG) to $31 from $26 and keeps a Buy rating on the shares. Th company reported mixed Q3 results but the outlook remains positive, the analyst tells investors in a research note. The firm says that while the shares fell 9% in the after market hours on weak PC adjusted EBITDA margins, it expects quarter-over-quarter improvement in Q4 on seasonality.