Bernstein analyst Venugopal Garre maintained a Buy rating on Sea yesterday and set a price target of $185.00.
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Venugopal Garre has given his Buy rating due to a combination of factors that highlight Sea Ltd’s strong performance and strategic initiatives. The company has demonstrated impressive results in the first half of the year, surpassing expectations across various metrics. This strong performance has led to upward revisions in both short-term and long-term estimates, driven by Sea’s effective execution rather than management guidance.
Sea’s strategic reinvestments in e-commerce and fintech are key areas of focus. The company is enhancing its logistics and delivery capabilities in e-commerce and expanding its fintech offerings with new products and a growing loan book. Despite potential short-term margin pressures due to these investments, the long-term growth prospects remain robust. The ongoing market correction is seen as a healthy normalization, and the current dip presents an opportunity to add to positions, supporting the Buy rating with a revised target price of US$185.
In another report released today, CGS-CIMB also upgraded the stock to a Buy with a $185.00 price target.
SE’s price has also changed moderately for the past six months – from $118.520 to $156.740, which is a 32.25% increase.