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Investing.com - Morgan Stanley (NYSE:MS) has raised its price target on Coupang Inc (NYSE:CPNG) to $35.00 from $32.00 while maintaining an Overweight rating on the South Korean e-commerce company. The stock, currently trading at $28.85, has shown strong momentum with a 31% year-to-date return and maintains a healthy financial position with more cash than debt on its balance sheet.
The price target increase follows Coupang’s second-quarter 2025 results, which showed accelerating business momentum with revenue growth of 19% and a gross profit margin of 30%, shifting investor focus to the company’s Taiwan operations.
Morgan Stanley noted that the main investor debate has now moved "almost entirely to Taiwan," with questions centering on when the operation will achieve positive unit economics.
The firm expressed a bullish outlook on Coupang’s Taiwan business, identifying it as "a key driver of longer-term growth" for the company.
Morgan Stanley’s higher price target reflects expectations of increased earnings contribution from Taiwan over the medium term, as well as lower share price volatility and correlation in recent years, according to the research note.
In other recent news, Coupang reported its second-quarter earnings for 2025, showing mixed results. The company missed earnings per share (EPS) forecasts, posting $0.02 instead of the expected $0.07, a negative surprise of 71.43%. However, Coupang surpassed revenue expectations, generating $8.5 billion compared to the anticipated $8.31 billion, marking a 2.29% surprise. This revenue growth represents a 16% increase year-over-year. Additionally, Macquarie raised its price target for Coupang to $35.00 from $29.00, maintaining an Outperform rating. This decision followed the acceleration of Coupang’s Product Commerce growth in the second quarter, with significant contributions from its Fresh and fulfillment segments. These developments have been pivotal in shaping investor sentiment.
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