Benchmark Starts Sea Ltd. (SE) at Buy, 'should remain a key beneficiary of Southeast Asia’s fast growing digital economy'

Benchmark analyst Fawne Jiang initiates coverage on Sea Ltd. (NYSE: SE) with a Buy rating and a price target of $105.00.

The analyst comments "As part of our industry launch of Southeast Asia Ecommerce, we are initiating coverage of SE with a Buy rating and a PT of $105. SE is a leading platform player offering gaming (Garena), ecommerce (Shopee) and fintech services (SeaMoney) primarily in SEA. Our positive investment view is based on our belief that 1) growth of Shopee and SeaMoney should continue to benefit from favorable structural factors; 2) SE’s impressive delivery of profitability in 4Q22 (one year ahead of its guided timeline) demonstrates its rapid adaption to a changing macro backdrop and strong execution; and 3) while SE’s pivot towards profitability may create some near-term growth uncertainty, it increases the visibility of LT sustainable growth, a key asset for a market consolidator, in our view. We believe that SE should remain a key beneficiary of Southeast Asia’s fast growing digital economy in years to come."

For an analyst ratings summary and ratings history on Sea Ltd. click here. For more ratings news on Sea Ltd. click here.

Shares of Sea Ltd. closed at $81.49 yesterday.

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