Coupang price target lowered to $29 from $31 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Coupang (CPNG) to $29 from $31 and keeps an Overweight rating on the shares. The firm, which believes the worst of the data breach is behind the company with regulatory risk dissipating and damage being finalized, sees operating metrics in Korea recovering and progress in Taiwan that “appears on track.”

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