Coupang fundamentals ‘quite solid’ despite selloff, says HSBC

HSBC analyst Junhyun Kim lowered the firm’s price target on Coupang to $24.60 from $27.20 and keeps a Buy rating on the shares. The recent share pullback is due to concerns about the overall e-commerce market in Korea, rather than Coupang itself, the analyst tells investors in a research note. The firm believes Coupang’s fundamentals "are quite solid" keeps a positive view on the shares. It sees "big upside potential" for the shares from strong margin growth over the next three years.