Equity Analysis /
Singapore

Sea Ltd: Covid raises the Sea level

  • We raise our target price for Sea Ltd to US$467 from US$434, implying 49% upside, and reiterate our Buy recommendation

  • Sea's recent results indicate the scale of the digital transformation in ASEAN is much larger than anticipated

  • The market is underestimating Sea's tight grip on the region's e-commerce explosion

Sea Ltd: Covid raises the Sea level
Nirgunan Tiruchelvam
Nirgunan Tiruchelvam

Head of Consumers Equity Research

Tellimer Research
18 November 2021
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