JPMorgan downgraded Sea Limited (SE) to Neutral from Overweight with a price target of $135, down from $160. The firm says macro headwinds could cap further positive earnings revisions at Sea while the stock’s valuation multiples could de-rate. Amid increased macro headwinds and uncertainty, JPMorgan recommends booking profits on Sea, the analyst tells investors in a research note. JPMorgan believes Grab Holdings’ (GRAB) business could prove relatively more resilient than Sea.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SE:
- Sea Limited downgraded to Neutral from Overweight at JPMorgan
- Sea Limited price target lowered to $135 from $145 at Wedbush
- Sea Limited price target raised to $165 from $135 at Loop Capital
- Sea Limited: Strong Growth Potential Driven by Shopee, SeaMoney, and Garena
- Sea Limited initiated with a Buy at Arete