Stifel analyst Scott Devitt noted that Sea Limited reported adjusted revenue growth and adjusted EBITDA losses that topped both consensus and his expectations. The company did not update its fiscal year adjusted revenue guidance, but management said it may revise gaming revenue up next quarter, which he believe is a conservative approach. Devitt, who did increase his own estimates following the Q1 report, keeps a Buy rating on Sea Limited shares and raised his price target on the stock to $44 from $32.
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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here