Coupang

Coupang: Four Major Factors to Drive Higher Profit Margins in 2022

Equity Bottom-Up
294 Views, 10 May 2022 01:52
EXECUTIVE SUMMARY
  • We have been Bearish on Coupang since 12 May 2021. Now we are turning Positive since we believe the valuations have become a lot more attractive. 
  • We highlight four major factors that could result in higher profit margins for Coupang in 2022 including competitors exiting early dawn service, lower COVID and EATS related costs. 
  • Our base case valuation of Coupang is implied market cap of $24.9 billion and target price of $14.1 per share, representing 32% upside from current levels.
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Douglas Kim
Korea/Asia, New Economy, IPOs, Events
South KoreaEquity Bottom-UpEquity Capital Markets

Nearly 25 years of experience in analyzing hundreds of companies, especially in Asia. Deep expertise in the following se... 

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