Sea Limited price target raised to $130 from $94 at Benchmark

Benchmark raised the firm’s price target on Sea Limited (SE) to $130 from $94 and keeps a Buy rating on the shares after the company reported “strong” Q3 results that included both revenue and profit significantly ahead of expectations. “More importantly,” management’s confirmation of a stabilized and rationalized competitive environment in the region, along with Shopee returning to profitability, has “renewed market confidence in the company’s capability to deliver profitable growth,” the analyst tells investors.