Sea Limited price target raised to $87 from $85 at Barclays

Barclays raised the firm’s price target on Sea Limited to $87 from $85 and keeps an Overweight rating on the shares. The company reported much better-than-expected gross merchandise volume and e-commerce revenue growth in Q1, and losses for e-commerce came in much lower than expected, the analyst tells investors in a research note. The firm says Shopee is once again on the verge of being profitable.