Sea Limited price target raised to $180 from $150 at Benchmark

Benchmark raised the firm’s price target on Sea Limited (SE) to $180 from $150 and keeps a Buy rating on the shares. Although Sea missed headline revenue expectations, this was primarily due to deferred gaming revenue, says the analyst, who views the “strong, broad-based growth” in the quarter reinforcing confidence in the company’s fundamentals. Despite macro overhangs, the firm believes Sea’s value positioning, pricing competitiveness, and still-low e-commerce penetration leave it “well-placed to deepen consumer mindshare,” the analyst added.