Bank of America Securities analyst Ahyung Cho has maintained their bullish stance on CPNG stock, giving a Buy rating on May 27.
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Ahyung Cho has given his Buy rating due to a combination of factors influencing Coupang’s market position and potential growth. The ongoing discussions regarding the commission rates for restaurant delivery apps, initiated by the new government, could lead to a more favorable cost structure for Coupang’s Eats service. This potential reduction in commission rates might allow Coupang to adjust its strategy and improve profitability in its delivery segment.
Furthermore, despite the regulatory changes that could affect the retail and platform industries, Coupang’s strong position in the product commerce sector remains a key strength. The consolidation within the Korean retail industry, both offline and online, presents opportunities for Coupang to enhance its market share and operational efficiency. These factors, combined with a price objective of $34, underpin Ahyung Cho’s confidence in maintaining a Buy rating for Coupang.
According to TipRanks, Cho is ranked #2845 out of 9593 analysts.
In another report released on May 27, Morgan Stanley also maintained a Buy rating on the stock with a $32.00 price target.
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