Sea Limited price target raised to $65 from $47 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Sea Limited to $65 from $47 and keeps an Equal Weight rating on the shares. Shopee’s recent market share trend, 2024 GMV growth outlook and improving unit economics for LS EC increase the odds for the firm’s bull case scenario, though “some of this is captured in the recent stock price move,” the analyst tells investors in a post-earnings note.