Sea Limited price target raised to $87 from $78 at Benchmark

Benchmark raised the firm’s price target on Sea Limited to $87 from $78 and keeps a Buy rating on the shares. Sea reported “solid” Q1 results, with both revenue and profit ahead of expectation, says the analyst, who adds that Shopee “in particular printed robust growth.” The firm, which notes that it raised its FY24/FY25 Shopee adjusted EBITDA projections, believes that its EBITDA and GMV assumptions for FY25 “still leaves ample room for upward revision.”