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Fly News Breaks for May 22, 2019
SE
May 22, 2019 | 05:16 EDT
Piper Jaffray analyst Michael Olson raised his price target for Sea Limited to $35 from $25 saying "very strong" Shopee revenue and ongoing strength from Digital Entertainment drove "strong" Q1 results. The combination of GDP and connectivity growth, along with a "secular rising tide" in the company's core verticals, will drive strong near-term growth for Sea Limited, followed by "material" long-term profitability, Olson tells investors in a research note. He maintains an Overweight rating on the shares.
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