Sea Limited price target raised to $70 from $60 at Bernstein

Bernstein raised the firm’s price target on Sea Limited to $70 from $60 and keeps an Outperform rating on the shares. Sea is up over 50% year-to-date and among the top return generators globally in the tech sector, yet the silent up-move has seemingly gone unnoticed, the firm says. While off a low base, the stock is not getting the attention it ideally would have, as the narrative shift is yet to happen, Bernstein adds, noting that management commentary and the latest memo show promise for that to happen. The firm sees more room for returns.