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PhillipCap maintains ‘buy’ on Sea despite widening losses in 2QFY22

Lim Hui Jie
Lim Hui Jie8/23/2022 09:16 PM GMT+08  • 3 min read
PhillipCap maintains ‘buy’ on Sea despite widening losses in 2QFY22
The brokerage slashed its target price from US$150 to US$110, however.
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PhillipCapital has maintained its “buy” rating on tech conglomerate Sea, but have cut its target price to US$110 ($153) from US$150.

This comes after Sea reported a loss increase of 115% y-o-y in its 2QFY2022 ended June, despite revenue increasing by 29% y-o-y.

Analyst Jonathan Woo says the company’s net loss was worse than expected, standing at 79% of his FY2022 forecasts.

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