Stocks climb more than 6%, Sea Ltd.'s prospects appear bright on gaming revenue growth
Stocks climb more than 6%, Sea Ltd.'s prospects appear bright on gaming revenue growth
Sea Ltd.'s gaming revenue might have further to grow, thanks to strong user engagement in Latin America and a growing user base in India, Daiwa Capital says. Another bright spot is the company's digital-payment service, SeaMoney, where a higher payment volume should bode well for Sea's valuation in the longer run. Daiwa predicts the digital-payment-service space "will become one of the key battlefields in Southeast Asia in the next one to two years." Noting Sea's solid top-line growth in 1Q, Daiwa raises its adjusted revenue estimates for the Singapore-based company by 5%-6% for 2021-23. It increases the stock's target price to $300 from $290 and keeps a buy rating. Sea last traded at $226.66.
大和资本(Daiwa Capital)说，得益于拉美强劲的用户参与度和印度日益增长的用户基础，SEA Ltd.的游戏收入可能还会进一步增长。另一个亮点是该公司的数字支付服务SeaMoney，从长远来看，较高的支付量对Sea的估值来说应该是个好兆头。大和预测，数字支付服务领域“将在未来一到两年内成为东南亚的关键战场之一”。注意到Sea第一季度营收稳步增长，大和将这家总部位于新加坡的公司2021-23年的调整后营收预期上调了5%-6%。该公司将该股目标价从290美元上调至300美元，并维持买入评级。SEA最新报226.66美元。
clarence.leong@wsj.com
邮箱：clarence.leong@wsj.com
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May 20, 2021 06:49 ET (10:49 GMT)
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