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Analysts remain upbeat on Sea after Tencent pares stake

Atiqah Mokhtar
Atiqah Mokhtar1/7/2022 6:24 PM GMT+08  • 3 min read
Analysts remain upbeat on Sea after Tencent pares stake
Analysts view the stake sale as unrelated to Sea's fundamentals.
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Analysts from Maybank Securities and UOB Kay Hian remain optimistic on Sea after major shareholder Tencent announced a decision to reduce its stake in the company from 21.3% to 18.7% on Jan 4.

See: Tencent sells a stake in Sea for US$3 billion

Maybank Securities and UOB Kay Hian both retained their “buy” calls for the counter, with unchanged target prices of US$379 ($515.38) and US$370.76 respectively.

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