Morgan Stanley Maintains Overweight Rating on Coupang (CPNG)

Coupang Inc. (NYSE:CPNG) is one of the 10 best retail stocks with huge upside potential. As of the close of play on March 4, the consensus sentiment for Coupang Inc. (NYSE:CPNG) remained moderately bullish. The stock received coverage from 11 analysts, 8 of whom assigned Buy ratings and 2 gave Hold calls. With just 1 Sell rating, it has a projected median 1-year price target of $25.18. This results in an upside potential of almost 32% at the current level.

On March 2, Morgan Stanley reduced its price target on Coupang Inc. (NYSE:CPNG) from $31 to $29. The firm maintained an Overweight rating on the stock, yielding almost 52% upside potential even after the revision.

The firm believes that the company has moved beyond the impact of the data breach, with regulatory risks subsiding and losses being assessed. The firm also notes that operational performance in Korea is improving and developments in Taiwan appear to be on track.

Coupang Inc. (NYSE:CPNG) is a technology company based in South Korea that is involved in e-commerce and logistics around the globe. The company leverages its mobile applications and internet websites to deliver various offerings. These include Rocket Fresh, Coupang Eats, Coupang Play, and Farfetch.

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