Sea Limited price target raised to $59 from $43 at Loop Capital

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.