Logos on the facade of the joint headquarters of Internet company Coupang and security company SentinelOne in the Silicon Valley town of Mountain View, California, October 28, 2018.
Smith Collection | Gado | Stock photos | Getty Images
Investment banks Goldman Sachs, JPMorgan, Deutsche Bank and Mizuho have launched coverage of the South Korean company Coupang, which debuted in New York last month.
The e-commerce company gained 40% on its first day of trading after raising $ 4.55 billion at $ 35 per share. Coupang was the largest IPO in the US this year and one of the Top 25 Greatest Deals of All Time, by Business Size.
Since going public, the stock has fallen more than 5% since trading closed on Tuesday.
South Korea’s e-commerce market is one of the largest and fastest growing in the world, according to Goldman, as the online shopping environment is conducive to high broadband and cellular penetration and tech-savvy consumers.
Here are Goldman, JPMorgan, Deutsche Bank, and Mizuho’s ratings and target prices for Coupang, and why they like the stock: