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Analysts maintain 'buy' on Sea on better e-commerce and fintech outlook

Khairani Afifi Noordin
Khairani Afifi Noordin3/4/2022 2:37 PM GMT+08  • 4 min read
Analysts maintain 'buy' on Sea on better e-commerce and fintech outlook
Maybank continues to view Sea as a champion of economic digitisation in Southeast Asia
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DBS Group Research and Maybank Research analysts have kept their “buy” calls on Sea with lower target prices of US$256 and US$160 from US$272 and US$379 previously.

In his March 3 note, Maybank’s Lai Gene Lih says while the stock price might face overhang in the near term, Maybank will continue to view Sea as a champion of economic digitisation in Southeast Asia, hence maintaining its rating.

Sea’s 4Q21 revenue was ahead of Lai’s estimates at US$3.2 billion, a 106% growth y-o-y. However, Sea’s guidance for Garena’s FY22 bookings at US$2.9 billion to US$3.1 billion disappointed, says Lai.

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