Sea Limited price target raised to $230 from $208 at JPMorgan

JPMorgan analyst Ranjan Sharma raised the firm’s price target on Sea Limited (SE) to $230 from $208 and keeps an Overweight rating on the shares. The firm says the company’s “flywheel” is getting stronger. The “step-change” in e-commerce monetization should allow Shopee to further enhance monetization and unlock advertising revenues, the analyst tells investors in a research note. JPMorgan also believes Sea’s logistic costs will decline further.