CPNG 4Q22 Results - Upside to LT EBITDA Outlook
What's new: Coupang’s reported 4Q22 top-line results were below consensus and our expectations. Despite near-term macro uncertainties, Coupang could continue to outgrow the online retail market driven by its competitive advantage in areas such as Rocket Wow. The company also updated its LT adjusted EBITDA guidance to 10% or higher driven by leverage in investments in technology, logistics infrastructure, supply chain optimization and others. We maintain our PT at USD 25.Analysts:
Jin Yoon
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