Sea Limited upgraded to Buy on Friday at Daiwa

On Friday, Daiwa upgraded Sea Limited to Buy from Hold with a price target of $50, up from $48.50. Concerns about TikTok Shop competition are largely priced in with the stock price having corrected by more than 40% in the past year, noted the analyst, who believes the risk-reward for Sea now looks favorable as the market has already priced in a competitive e-commerce environment in Southeast Asia.