- The shares of Coupang Inc (NYSE: CPNG) have received a $17 price target from Citi. These are the details.
The shares of Coupang Inc (NYSE: CPNG) have received a $17 price target from Citi. And Citi analyst John Yu increased the price target on Coupang from $15 while maintaining a “Buy” rating on the shares.
Yu noted that as a full-coverage e-commerce platform, Coupang has exposure to the fashion and accessory categories. But the main value proposition is in daily necessities, fast-moving consumer goods (FMCG), and grocery categories. And for these categories, Coupang has unrivaled competitive advantages due to its nationwide logistics infrastructure and Rocket Delivery service.
This price target is based on two new measures to improve margins, which include a stricter refund policy in March and reduced delivery outsourcing in May.
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