Price target:
Maybank Kim Eng “buy” US$378

Free Fire Max ignites ‘buy’ call for Sea 
The upsizing of Free Fire’s growth potential has spurred Maybank Kim Eng’s Lai Gene Lih to maintain his “buy” call and target price of US$378 ($507) on gaming and e-commerce company Sea. 

In his Oct 15 note, Lai says the launch of multiplayer battle royale mobile game Free Fire Max — now featuring better graphics, animation and draw distance — has helped re-engage existing users while reaching out to new ones. 

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