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Fly News Breaks for May 22, 2019
SE
May 22, 2019 | 09:56 EDT
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.