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Analysts slash Sea target prices on weak gaming guidance
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Published Thu, Mar 3, 2022 · 09:50 PM
Singapore
BROKERAGES have lowered their target prices for Sea, after the Singapore-based consumer Internet company guided for lower bookings under its gaming arm Garena for FY2022.
In a research note on Thursday (Mar 3), Maybank Securities analyst Lai Gene Lih slashed his target price by 56 per cent to US$160, down from US$379, despite only reducing the FY2022-2023 revenue estimates by 8-9 per cent.
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