Sea Limited price target lowered to $64 from $98 at Barclays

Barclays lowered the firm’s price target on Sea Limited to $64 from $98 and keeps an Overweight rating on the shares. While the fiscal Q3 results were slightly below expectations, the real surprise was the company pivoting for growth away from profits and suggesting it is prepared to incur losses for both Shopee and Group, the analyst tells investors in a research note. The firm cut estimates “sharply” but the shares at their lowest point in four years, it keeps an Overweight rating.