Coupang, Inc. (CPNG) Upgraded to Buy: Is the Worst of the Data Leak Over?

Coupang, Inc. (NYSE:CPNG) is among the stocks under $50 to buy now. On January 16, Peter Milliken from Deutsche Bank upgraded Coupang, Inc. (NYSE:CPNG) to Buy from Hold, while setting a price target of $25, according to TheFly. Slightly above the lowest 1-year price target of $22, the firm’s price reflects an upside potential of 23%.

A day earlier, BofA Securities trimmed the price target on Coupang, Inc. (NYSE:CPNG) to $32.00 from $38.00 and maintained a Buy rating on the company. The firm attributed this downward revision to a stringent regulatory environment stemming from a personal-data leak incident, with the investigation still ongoing.

Although Coupang, Inc. (NYSE:CPNG) has struggled with other issues, such as fair trade, labor, and tax concerns, that are currently being examined by regulators, the firm highlights that this isn’t something new, adding that the Korean industry has persistently seen regulation as a risk. That said, BofA Securities believes these ongoing investigations could weigh down investor sentiment and create uncertainties for the company.

Coupang, Inc. (NYSE:CPNG) is a Washington-based company that operates a retail business through its mobile applications and websites in South Korea and internationally. Founded in 2010, the company operates in two segments: Product Commerce and Developing Offerings.

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