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CGS-CIMB remains positive on SEA as its 1Q21 results see 'strong start' to year

Felicia Tan
Felicia Tan5/19/2021 1:1 PM GMT+08  • 3 min read
CGS-CIMB remains positive on SEA as its 1Q21 results see 'strong start' to year
Shares in SEA closed US$9.16 higher or 4.2% up at US$228 on May 18, or 38.30 times P/BV, according to CGS-CIMB’s estimates.
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Photo: Bloomberg

CGS-CIMB Research analysts Ong Khang Chuen and Darren Ong have kept “add” on SEA Limited with an unchanged sum of the parts (SOTP)-based target price of US$315 ($419.10) after the group’s 1QFY2021 results beat the brokerage’s expectations.

Sea Limited, for the 1QFY2021 ended March, saw adjusted revenue surge 144% y-o-y and 11% q-o-q to US$2.1 billion, beating the analysts’ expectations.

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