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.
大和資本(Daiwa Capital)説，得益於拉美強勁的用户參與度和印度日益增長的用户基礎，SEA Ltd.的遊戲收入可能還會進一步增長。另一個亮點是該公司的數字支付服務SeaMoney，從長遠來看，較高的支付量對Sea的估值來説應該是個好兆頭。大和預測，數字支付服務領域“將在未來一到兩年內成為東南亞的關鍵戰場之一”。注意到Sea第一季度營收穩步增長，大和將這家總部位於新加坡的公司2021-23年的調整後營收預期上調了5%-6%。該公司將該股目標價從290美元上調至300美元，並維持買入評級。SEA最新報226.66美元。
clarence.leong@wsj.com
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May 20, 2021 06:49 ET (10:49 GMT)
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