Coupang Q4-to-date trend ‘reassuring,’ says BofA

BofA says data from Sensor Tower shows Coupang’s (CPNG) daily active users grew 12% in August-November and reports that based on MoTIE monthly data, October e-commerce gross merchandise value grew 14% year-over-year. The firm, which calls the Q4-to-date trend “reassuring,” reiterates Buy a rating and $32 price target on Coupang shares.