0303 GMT - Coupang's near-term profit margins may be pressured by the Korean won's depreciation against the U.S. dollar, Nomura analysts Angela Hong and Won Kang say. Most of the U.S.-listed South Korean e-commerce platform's revenue is in the won, while some of its overhead costs and operating expenses are incurred in the greenback, they note. Coupang's forex-neutral core business, however, remains strong, the analysts point out, adding that they expect its gross merchandise value to grow by 20% in 2025, significantly stronger than the estimated 3% growth in South Korea's overall e-commerce market. Nomura trims its target price for Coupang by 3.8% to $25.00 and keeps a buy rating. Shares closed 0.8% higher at $21.97 on Tuesday.(kwanwoo.jun@wsj.com)
(END) Dow Jones Newswires
January 14, 2025 22:03 ET (03:03 GMT)
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