UPDATE: Cowen Starts Sea Ltd. (SE) at Outperform

(updated to correct company name)

Cowen initiates coverage on Sea Ltd. (NYSE: SE) with a Outperform rating and a price target of $18.00.

Analyst John Blackledge expects the company to drive value creation through leading positions in Online Games and eCommerce over time. The analyst comments "The eCom biz provides the most upside potential given size of oppty, though SE must prove it can effectively ramp monetization over time."

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

Shares of Spectra Energy closed at $14.73 yesterday.

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