Equity Analysis /
Singapore

Sea Ltd: Cost cuts will not stem the sea of red. Downgrade to Sell

  • Sea’s path to profitability will require a lot more than job cuts

  • The Digital Entertainment segment is in freefall because it is dependent on a single game – Free Fire

  • We downgrade Sea to Sell with a new target price of US$60

Sea Ltd: Cost cuts will not stem the sea of red. Downgrade to Sell
Nirgunan Tiruchelvam
Nirgunan Tiruchelvam

Head of Consumers Equity Research

Tellimer Research
21 June 2022
Published byTellimer Research

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