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With Shopee in 16 regions, DBS Group Research sees 95% upside for Sea

Jovi Ho
Jovi Ho2/24/2022 1:45 PM GMT+08  • 5 min read
With Shopee in 16 regions, DBS Group Research sees 95% upside for Sea
Sea offers a 54% e-commerce revenue compound annual growth rate over FY2021-2023, higher than any other major e-commerce player.
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Sea Limited (Sea) offers higher e-commerce growth than its peers. Combined with its businesses in gaming, FinTech and food delivery, DBS Group Research analyst Sachin Mittal has renewed faith in its growth strategy.

In a Feb 21 note, Mittal is maintaining “buy” on Nasdaq-listed Sea with a lowered target price of US$272 ($367.99), down from $278 previously. The new target price represents a 95% upside.

Sea engages in the digital entertainment, e-commerce, and digital financial service businesses primarily in seven countries across Greater Southeast Asia.

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