Sea Ltd. (SE) PT Raised to $69 at TD Cowen

TD Cowen analyst John Blackledge raised the price target on Sea Ltd. (NYSE: SE) to $69.00 (from $64.00) while maintaining a Hold rating.

The analyst commented, "2Q rev was +2.2% vs cons, comprising Shopee beat (+2% vs cons), partially offset by Garena (13% below cons). Garena bookings topped our estimates, driven by strong user growth, while eComm GMV strength led to mgmt raising their '24 GMV outlook. EBITDA of $449MM was 20% above cons. Mgmt. expects positive eComm EBITDA in 3Q. We raised Shopee and Garena rev estimates; PT to $69, maintain Hold rating."

You May Also Be Interested In

• Golar LNG Ltd. (GLNG) PT Raised to $70 at BTIG
• Sea Ltd. (SE) PT Raised to $156 at Barclays
• Yeti Holdings Inc. (YETI) PT Raised to $56 at Raymond James