Sea Limited price target raised to $80 from $76 at HSBC

HSBC raised the firm’s price target on Sea Limited to $80 from $76 and keeps a Buy rating on the shares. The company’s Q1 EBITDA beat came on Shopee Asia turning EBITDA positive and better than expected growth in the gaming business, the analyst tells investors in a research note. The firm expects Shopee to turn EBITDA positive in Q2 as unit economics improve. It sees margin expansion for Shopee as the key catalyst for the shares.