Deutsche Bank analyst Peter Milliken upgraded Coupang to Buy from Hold with a $20 price target. The company has "stepped ahead of the competition again" as it was able to grow at 21% in Q4, with growth across categories, the analyst tells investors in a research note. The firm expects a lot of the growth has come from adding Fresh, but it notes that management cites across the board growth, and sees opportunities to grow in electronics, fashion and beauty. Coupang’s profit growth story "will get investor attention given its strong franchise," contends Deutsche.
Published first on TheFly
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