Sea Limited price target raised to $96 from $84 at BofA

BofA analyst Sachin Salgaonkar raised the firm’s price target on Sea Limited to $96 from $84 and keeps a Buy rating on the shares. In e-commerce, the firm’s recent industry checks indicate that momentum of sales like 9.9 has been “strong,” while in Brazil, Shopee is consciously going after market share while limiting losses, the analyst tells investors. The firm raised its FY25-26 EPS forecasts by 1%-3% to factor in better than earlier expected momentum and also raised its multiple of Shopee GMV to factor in improving momentum at Shopee and peer multiple re-rating.