Bernstein raised the firm’s price target on Sea Limited to $60 from $50 and keeps an Outperform rating on the shares. The firm said Sea Ltd. is “flexing its muscles” as it has delivered “strong” ecommerce GMV growth and a sharp loss reduction. The broad guidance of midteens GMV and profitability in the second half is much better than the firm’s expectations, the analyst tells investors in a research note.
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