Sea Limited price target raised to $40 from $32 at TD Cowen

TD Cowen raised the firm’s price target on Sea Limited to $40 from $32 and keeps a Market Perform rating on the shares ahead of the company’s Q4 report due on March 4. For Q4, the firm forecasts revenue of $3.64B, which would be up 5.3% year-over-year and about 2% ahead of consensus, and EBITDA of (43M) versus $496M last year given ramping investments at Shopee, the analyst tells investors in a preview note.