11:24 AM EDT, 08/20/2025 (MT Newswires) -- Coupang's ( CPNG ) growing business momentum and push into Taiwan's relatively nascent e-commerce market could trigger mass adoption and drive long-term growth, Morgan Stanley said in a Wednesday note.

The company's Taiwan operations could emerge as an "invaluable growth engine," considering that Taiwan will become a $50 billion market in the next five years, analysts wrote.

The e-commerce company could record $2.50 billion in revenue from Taiwan in late 2026, given the country's smaller market and faster progress than South Korea, according to the note.

Morgan Stanley lowered its adjusted earnings before interest, taxes, depreciation and amortization guidance for 2025 and 2026 by 11% and modeled development offerings losses of nearly $1 billion for 2026, citing the revised guidance for Developing Offerings and the brokerage's assumption for peak losses in 2026.

Analysts also forecast a sharp narrowing of losses starting in 2027, as Taiwan reaches critical scale.

The brokerage said it was overweight on the stock and increased its price target to $35 from $32.

Price: 28.52, Change: -0.34, Percent Change: -1.16