Nomura downgrades Coupang to 'neutral' on data breach, regulatory risks

Nomura downgrades South Korean e-commerce company Coupang CPNG.N to "neutral" from "buy"

Trims PT to $22 from $30, in line with stock's last close

CPNG up marginally at $22.33 in premarket trading

Brokerage says 30 November data breach is a temporary drag on share price and company now faces increased regulatory oversight in Korea

" The FTC (Federal Trade Commission) has signaled its intent for rigorous administrative measures, including potential operational adjustments, to ensure higher “social responsibility” and consumer protection" - Nomura

Adds that a faster resolution of the data breach without operational changes is an upside risk, while an unexpected suspension of business operations is a downside risk

15 analysts rate the stock "buy" on average; median PT is $35.5 - data compiled by LSEG

As of last close, CPNG up ~4% in the past 12 months