Coupang - Rising Consumer Spending Provides Momentum for eCommerce Platform Providers!
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Business drivers: Coupang (CPNG) is one of the leading eCommerce platform providers in South Korea. Here, they offer their customers "Rocket Delivery," allowing for next-day delivery of ordered items. Rocket Fresh, Coupang's online grocery delivery service, has also established itself as a leading player in this market segment in South Korea. On May 27, Morgan Stanley reaffirmed its rating of Overweight and raised the price target from $27 to $32.
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