Fly News Breaks for August 8, 2019
Aug 8, 2019 | 05:15 EDT
Piper Jaffray analyst Michael Olson raised his price target for Sea Limited to $43 from $35 saying the company has "seen significant" growth in its Digital Entertainment segment over the past few quarters due to the success of internally developed title, Free Fire. Based on an analysis of Free Fire rankings on iOS and Google Play, the analyst believes the title continues to perform well. He raised on estimates on expectations of a "more robust performance" in Q2 and through the remainder of 2019. Olson maintains an Overweight rating on shares of Sea Limited.
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