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Morgan Stanley ups Coupang target, names new Top Pick

Morgan Stanley raised the firm’s price target on Coupang (CPNG) to $32 from $27 and keeps an Overweight rating on the shares. The firm also named Coupang a new Top Pick. The company continues to execute well, is relatively insulated from tariff risk, and a beneficiary of a weaker U.S. dollar, the analyst tells investors in a research note. Morgan Stanley believes the stock’s valuation also looks favorable compared to relevant peers. Coupang’s “superior” service driving traffic, which drives selection, scale, margins, and comes back in the form of benefits for consumers, “continues to play out smoothly,” contends the firm.

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