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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NEGATIVE IMPACT
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.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100