Sea Ltd. (SE) PT Raised to $150 at Cowen; Sees Strong Q2 Results

Cowen analyst John Blackledge raised the price target on Sea Ltd. (NYSE: SE) to $150.00 (from $77.00) while maintaining an Outperform rating, saying they see strong Q2 results.

The analyst commented, "SE reports 2Q20 results on 8/18 BMO. We expect strong 2Q20 results led by Garena & Shopee. For 2Q20, we expect Shopee GMV +97% y/y led by rising active buyers, and expect solid growth at Garena with rev. +30% y/y, driven by Free Fire. We raised our est's as COVID-19 drives higher engagement across SE's biz segments. We raised LT est. & extended our model to 2030, PT to $150, maintain Outperform."

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