Sea Limited downgraded to Neutral from Buy at UBS

UBS analyst Navin Killa downgraded Sea Limited to Neutral from Buy with a price target of $92, down from $105. The analyst says competition is increasing in e-commerce and that the firm has no conviction on a gaming recovery. In addition, Sea is trading at premium valuation to peers despite slower near-term growth and competition headwinds, the analyst tells investors in a research note.