Loop Capital raised the firm’s price target on Sea Limited to $59 from $43 but keeps a Hold rating on the shares. The firm is positive on the company’s position, secular story and management execution, adding that it sees potential for meaningful revaluation in the stock should competitive resilience be confirmed in the face of a relaunched TikTok in Indonesia, the analyst tells investors in a research note. Loop adds however that it prefers to see supporting datapoints before turning more constructive.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>