Sea Limited price target raised to $100 from $80 at Bernstein

Bernstein analyst Venugopal Garre raised the firm’s price target on Sea Limited to $100 from $80 and keeps an Outperform rating on the shares. The firm also revised estimates materially led by e-commerce business where it increased take rates, and gross profit margins and reduce S&M intensity. Bernstein, however, continues to see Gaming scale down but remains a business that offers option value for the future. Fintech profitability is improving as well, which the firm now factors into its model.