Citigroup Upgrades Coupang to Buy, Raises Price Target to $26
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst John Yu upgrades Coupang (NYSE:CPNG) from Neutral to Buy and raises the price target from $19 to $26.
April 15, 2024 | 2:45 pm
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POSITIVE IMPACT
Citigroup upgraded Coupang from Neutral to Buy and increased the price target from $19 to $26.
The upgrade by Citigroup, a major financial institution, to a Buy rating from Neutral and the significant raise in price target from $19 to $26, suggests a strong positive outlook on Coupang's future performance. This is likely to instill confidence in investors and could lead to a short-term increase in the stock's price as market participants react to the upgraded rating and higher price target.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100