Coupang Stock Has 16% Upside, According to 1 Wall Street Analyst
South Korean e-commerce behemoth Coupang (NYSE: CPNG) has seen its stock rise over 15% following news of a 58% price increase for its Wow membership fee. Despite these gains, which have added to the stock's steady climb in 2024, Coupang may still offer 16% upside over the next year, according to Citi analyst John Yu.
I recently listed four reasons why Coupang is a buy -- before Yu hiked his price target to $26 and upgraded the stock to buy -- and I can't help but agree with him.
Coupang Wow members will now receive free shipping, 30-day returns, grocery delivery, discounts on restaurant orders and deliveries, and streaming content for approximately $6 per month. Though the $2 price increase sounds diminutive, spread across the company's 14 million Wow members, it packs a punch.
Source Fool.com
