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Maybank and Citi reduce Sea’s TP to US$105 and US$145 respectively on EU retreat and global macro weakness

Bryan Wu
Bryan Wu7/28/2022 11:11 AM GMT+08  • 5 min read
Maybank and Citi reduce Sea’s TP to US$105 and US$145 respectively on EU retreat and global macro weakness
Sea's share price has continued to fall with media reports of job cuts after its exit from the three markets, bringing its decline to 78% below its peak in October 2022
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Maybank Securities analyst Samuel Tan has reduced NYSE-listed Sea Limited’s target price (TP) on the New York Stock Exchange (NYSE) to US$105 ($145.09) from US$140 previously following negative news on its exit from markets in France, Spain and India.

Tan has, however, kept Sea’s “buy” call.

Sea is a Singapore-founded internet company that has businesses in gaming, e-commerce and digital financial services, with subsidiaries including Garena and Shopee. Its share price has continued to fall with media reports of job cuts after its exit from the three markets, bringing its decline to 78% below its peak in October 2022.

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