Sea Ltd. (SE) PT Raised to $140 at TD Cowen

TD Cowen analyst John Blackledge raised the price target on Sea Ltd. (NYSE: SE) to $140.00 (from $120.00) while maintaining a Hold rating.

The analyst commented: "Solid 1Q Results on Garena Bookings Growth & EBITDA Gains; 1Q results were led by Garena bookings +73% y/y, +38% vs our est. and driven by Free Fire paying users. Shopee rev was 3% below cons. est., while Monee rev grew 67% y/y, 6% ahead of cons. 1Q overall EBITDA was +33% vs cons. est's, largely on better Garena & Shopee profitability. Mgmt remains confident in segment level guide for '25. We raised L-T rev & EBITDA est's; PT to $140, maintain Hold."

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