TikTok-GoTo partnership takes away Indonesian group’s burden, pressures Sea: analysts
THE partnership between TikTok and GoTo will hurt Sea’s margin, but relieve the Indonesian tech giant’s cash-burning burden, said analysts on Monday (Dec 11).
DBS Group Research has slashed the target price for Shopee owner Sea to US$42 from US$62 with a downgrade to “hold” from “buy”.
This was following the deal announcement, as the research house expects Shopee to suffer greater losses amid heightened competition in e-commerce space.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
IBM to add 800 AI-related jobs in Ireland
Uber unveils US shuttle service, expands Costco tie-up to woo price-conscious users
Grab’s Q1 loss narrows to US$115 million; raises adjusted Ebitda target
Gold prices edge higher as US dollar, yields soften
Singapore shares advance after global indices hit all-time highs; STI up 0.5% at Thursday’s open
China’s Nio launches Onvo brand to challenge Tesla’s best-selling model