UBS Downgrades Coupang to Neutral, Lowers Price Target to $18.5
Portfolio Pulse from Benzinga Newsdesk
UBS analyst Jennifer Han downgraded Coupang (NYSE:CPNG) from Buy to Neutral and reduced the price target from $26 to $18.5, indicating a more cautious outlook on the company's stock.
December 20, 2023 | 11:18 am
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Coupang's stock rating was downgraded by UBS from Buy to Neutral, and its price target was cut from $26 to $18.5, suggesting a tempered growth expectation.
Analyst downgrades typically lead to a negative short-term reaction in the stock market as they suggest a less optimistic view on the company's future performance. The reduction in price target further implies that the expected upside for the stock is now lower than previously estimated.
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