Coupang reinstated with a Buy at BofA

BofA analyst Ahyung Cho reinstated coverage of Coupang with a Buy rating and $30 price target. Coupang, as the leading e-commerce company in Korea, is poised to benefit from ongoing digitalization in consumption and industry consolidation in the country, says the analyst, who expects Coupang to be “one of the very few retailers that can gain market share and raise its return profile at the same time.”