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Fly News Breaks for August 20, 2019
SE
Aug 20, 2019 | 14:30 EDT
Piper Jaffray analyst Michael Olson said Sea Limited reported "strong" Q2 revenue and adjusted EBITDA, driven by a combination of ongoing strength from both Garena and Shopee. He believes the combination of GDP and connectivity growth, along with "a secular rising tide" in the company's core gaming, e-commerce, and digital payments verticals, can drive strong growth in the near-term and profitability in the long-term. Olson keeps an Overweight rating on Sea Limited shares and raised his price target on the stock to $49 from $43.
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