Morgan Stanley Maintains Overweight Rating on Coupang with $28 Price Target
After the Personal Information Protection Commission announced that it has imposed a record W624.7B fine on Coupang following its large-scale data breach, Morgan Stanley said the fine was in-line with the firm's expectation of $400M and below market expectations closer to W1T. The firm, which believes finalization of the fine "removes a major uncertainty for the shares," has an Overweight rating and $28 price target on Coupang.
