Coupang Inc (NYSE:CPNG) is one of billionaire David Abrams’ top stock picks with upside potential.
Coupang shares have gone up more than 26% over the past month, and analysts project a nearly 30% upside from the current level
This Asian e-commerce stock is loved by elite investors as it is held by some 86 hedge funds. In a note to investors on June 15, the equity research firm CLSA recommended buying Coupang Inc (NYSE:CPNG) stock, pointing to the company’s competitive strength and expanding market. CLSA initiated coverage of CPNG stock with an Outperform rating and $24 price target.
According to the brokerage, Coupang has built a strong retail platform and a nationwide logistics network that strengthens its leading position in the Korean e-commerce market. The brokerage expects the Korean e-commerce market to grow at a compound annual rate of 6% between 2025 and 2029. Additionally, CLSA expects Coupang to begin reaping from its AI investments and benefit from market consolidation.