HSBC raised the firm’s price target on Sea Limited to $76 from $70 and keeps a Buy rating on the shares post the Q4 report. The company’s guidance suggests a better competitive environment in 2024 post consolidation and Shopee should turn to EBITDA positive in the second half, the analyst tells investors in a research note. The firm says key catalysts for Sea shares would be Shopee volume growth and margin expansion.
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