Jefferies analyst Thomas Chong raised the firm’s price target on Sea Limited (SE) to $131 from $114 and keeps a Buy rating on the shares after the company reported Q3 results that beat expectations. For Shopee, positive adjusted EBITDA is seen in both Asia and Brazil markets, while for digital entertainment, Free Fire’s full year bookings are expected to grow over 30% year-on-year and expected to have a long lifecycle, the analyst tells investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SE:
- Elliott confirms big Honeywell stake, Home Deport reports Q3 beat: Morning Buzz
- Sea Limited rises 20.3%
- Options Volatility and Implied Earnings Moves Today, November 12, 2024
- Sea Limited reports Q3 EPS 24c, consensus 26c
- Options Volatility and Implied Earnings Moves This Week, November 11 – November 15, 2024