UBS has increased its price target for Coupang (CPNG) to $31 from $26, while maintaining a Buy rating on the shares.
The adjustment comes after Coupang's Q3 results, which showed lower-than-expected PC adjusted EBITDA margins and caused a 9% drop in after-market trading.
Despite this decline, UBS remains positive about Coupang's future, expecting improvement in Q4 due to seasonal factors. The firm believes that the overall sentiment surrounding the company is optimistic and suggests the potential for recovery in the next quarter.