Jefferies analyst Thomas Chong raised the firm’s price target on Sea Limited (SE) to $131 from $114 and keeps a Buy rating on the shares after the company reported Q3 results that beat expectations. For Shopee, positive adjusted EBITDA is seen in both Asia and Brazil markets, while for digital entertainment, Free Fire’s full year bookings are expected to grow over 30% year-on-year and expected to have a long lifecycle, the analyst tells investors.
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