Sea Limited To Gain From Strong E-Commerce Growth And Positive Momentum: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
BofA Securities analyst Sachin Salgaonkar reiterated a Buy rating on Sea Limited (NYSE:SE), raising the price target to $84 from $77. Sea Limited reported a 23% YoY revenue growth for Q2, beating estimates. The company is expected to benefit from e-commerce growth in Southeast Asia and expansion into Brazil. The analyst revised FY24/25 EPS estimates and target multiples for gaming and Shopee, indicating improved business momentum.
August 14, 2024 | 6:35 pm
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BofA Securities reiterated a Buy rating on Sea Limited, raising the price target to $84 from $77. The company reported a 23% YoY revenue growth for Q2, beating estimates. Sea Limited is expected to benefit from e-commerce growth in Southeast Asia and expansion into Brazil.
The analyst's reiteration of a Buy rating and increased price target, along with strong Q2 revenue growth and positive outlook for e-commerce and expansion into Brazil, are likely to drive short-term positive sentiment and price movement for SE shares.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100