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Coupang(New York Stock Exchange: CBNG) rose in early trading Thursday after UBS upgraded the South Korean e-commerce stock to a buy rating after setting it at neutral.
Analyst Jennifer Hahn and her team view Coupang (CPNG) as a leader in… The Korean e-commerce market is worth $124 billion, with a market share of 29%. It is worth noting that the company expects Coupang (CPNG) to grow its market share by 43% by 2026. “Our analysis suggests that the market may be underestimating Coupang’s capabilities, ignoring its expanding portfolio and strong logistics network,” Han said.
Looking ahead, UBS forecast a 21% compound annual growth rate for Coupang's gross cargo value (CPNG) between 2023 and the end of 2026 and placed its revenue forecasts ahead of consensus estimates. Coupang (CPNG) is expected to continue to improve its adjusted EBITDA margin by more than 10% with continued improvements in operational efficiency, scale and automation. UBS set a $26 price target for CPNG.
Coupang (CPNG) shares collapsed. 2.84% In early trading, it rose to $23.16 versus a 52-week trading range of $13.51 to $23.77. Coupang (CPNG) stock is trading more than 25% above its 100-day and 200-day moving averages. The short interest on CPNG is 2.41% of the total float.