Latest News

Here’s what Wall Street is saying about Coupang, the biggest U.S. IPO so far in 2021

0

Logos on facade at the shared headquarters of Internet company Coupang and security company SentinelOne in the Silicon Valley town of Mountain View, California, October 28, 2018.

Smith Collection | Gado | Archive Photos | Getty Images

Investment banks Goldman Sachs, JPMorgan, Deutsche Bank and Mizuho have initiated coverage on South Korean firm Coupang, which made its stock market debut in New York last month.

The e-commerce company surged 40% in its first day of trading after raising $4.55 billion at $35 per share. Coupang was the largest initial public offering in the U.S. so far this year and one of the top 25 biggest listings of all time stateside, by deal size.

Since its IPO, the stock has slipped more than 5% as of its Tuesday close.

South Korea’s e-commerce market is one of the largest and fastest-growing in the world due to an environment that is conducive to online shopping with high broadband and mobile penetration and tech-savvy consumers, according to Goldman.

Here are Goldman, JPMorgan, Deutsche Bank and Mizuho’s ratings and price targets for Coupang, and why they like the stock:

U.S. considering joining boycott of 2022 Beijing Olympics, State Department says

Previous article

German finance chief says Covid surge shows now is not the time to reopen economy

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News