Benchmark raised the firm’s price target on Sea Limited (SE) to $130 from $94 and keeps a Buy rating on the shares after the company reported “strong” Q3 results that included both revenue and profit significantly ahead of expectations. “More importantly,” management’s confirmation of a stabilized and rationalized competitive environment in the region, along with Shopee returning to profitability, has “renewed market confidence in the company’s capability to deliver profitable growth,” the analyst tells investors.
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Read More on SE:
- Sea Limited price target raised to $125 from $110 at Bernstein
- Sea Limited price target raised to $100 from $69 at TD Cowen
- Sea Limited Shows Strong Growth in Q3 2024
- Sea Limited Sees Strong Q3 Growth Across All Sectors
- Sea Limited price target raised to $131 from $114 at Jefferies
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