- Mizuho analyst James Lee maintained Coupang Inc (NYSE:CPNG) with a Neutral and raised the price target from $18 to $22.
- Coupang clocked 12.5% revenue growth in the second quarter to $5.04 billion, missing the consensus of $5.06 billion.
- EPS was $(0.04), beating the consensus of $(0.11).
- He highlighted that CPNG reported better than expected EBITDA due to its efforts to increase efficiency in core products while moderating investments in developing offerings.
- As a result, FY22 EBITDA guidance increased meaningfully from less than -$400 million to positive for the entire year.
- He raised the FY25 EBITDA estimate by 10% to $2.5 billion with a better than anticipated margin outlook.
- While he was encouraged by the EBITDA trajectory through cost management, his Neutral rating reflected CPNG’s premium valuation compared to global peers and ongoing competitive concerns.
- Price Action: CPNG shares traded lower by 4.66% at $18.84 on the last check Thursday.
Bar Harbor Bankshares Announces Stock Repurchase Plan Of Up To 756,000 Shares Of Its Outstanding Common Stock; The Plan Is Authorized To Last No Longer Than 12 Months
Bar Harbor Bankshares (NYSE:BHB, the ", Company", )))) announced that its Board of Directors authorized the repurchase of up to 756,000 shares of its outstanding common stock, representing approximately 5% of its shares
