Sea Limited To Gain From Strong E-Commerce Growth And Positive Momentum: Analyst

BofA Securities analyst Sachin Salgaonkar reiterated the Buy rating on Sea Limited SE, raising the price objective to $84 from $77. Yesterday, the company reported fiscal second-quarter revenue growth of 23.0% year-on-year to $3.81 billion, beating the analyst consensus estimate of $3.72 billion. Following the results, the analyst revised the FY24/25 EPS estimates and adjusted the target multiples for gaming to 6.5X FY25E EV/EBITDA, up from 5.5X. The analyst notes that the company is well-positioned to bene ...