BofA Keeps Buy Rating on Coupang (CPNG), Lifts PT

On Friday, May 30, BofA Securities analyst Susie Lee increased the price target on Coupang, Inc. (NYSE:CPNG) from $30 to $34 and maintained a “Buy” rating.

This decision came after a report from the South Korean Ministry of Trade, Industry and Energy (MoTIE), which showed that sales for retail and e-commerce companies surveyed in April grew by 7%. This growth aligns with the trends seen in the first quarter of 2025. Notably, e-commerce sales went up significantly by 15.8%, while offline sales dropped slightly by 1.9%.

A woman holding a laptop, wearing a graphic t-shirt, casually checking her e-commerce order.

Lee noted that growth is expected to slow down because the second quarter of the previous year had very high sales. This was supported by a free delivery promotion that started at the end of the first quarter of 2024. Despite this, Coupang, Inc.’s (NYSE:CPNG) Eats service is anticipated to keep growing. It should grow its market share, particularly in regions outside of Seoul where it is not yet very popular.

Coupang, Inc. (NYSE:CPNG) is a technology company that offers e-commerce, restaurant delivery, video streaming, and fintech services. The company serves its customers through brands like Coupang, Coupang Eats, Coupang Play, and Farfetch. Coupang, Inc. (NYSE:CPNG) is also sometimes referred to as the “Amazon of South Korea.”

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Disclosure: None.