Sea Ltd. (SE) PT Raised to $190 at Loop Capital

Loop Capital analyst Rob Sanderson raised the price target on Sea Ltd. (NYSE: SE) to $190.00 (from $165.00) while maintaining a Buy rating.

The analyst commented: "We are raising estimates on higher expectations for the profit ramp in ecommerce and a stronger outlook for the gaming business. Shopee EBITDA reaching 0.9% of GMV from negative in three quarters and comparisons with other global ecommerce businesses makes management’s stated target for 2% to 3% GMV margin look especially conservative. We think the longer-term earnings power from Shopee is more likely +6% of GMV with upside depending on how retail media/shopper data and AI driven ad-tech blossoms for the company. The upswing at Garena is also more powerful than anticipated with successful IP collaboration, but momentum of the fintech business into an open-ended opportunity is even more encouraging. We are raising our PT to $190 from $165 previous on higher estimates."

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