On Monday, Sea Ltd (NYNYSE:SE:SE) experienced a positive adjustment in its financial outlook as Jefferies increased the company's stock price target to $82 from the previous $80, while reiterating a Buy rating on the stock. The adjustment follows Sea Ltd's release of its fourth-quarter results and a forward-looking statement regarding its various business segments.
The company's e-commerce arm, Shopee, is poised to enhance its service quality, price competitiveness, and content, aiming for high teens range year-over-year growth in Gross Merchandise Value (GMV). Moreover, Shopee's adjusted EBITDA is anticipated to shift into positive territory in the second half of 2024.
In the gaming sector, Sea Ltd's popular title Free Fire (FF) is expected to continue its upward trajectory with double-digit growth in both its user base and bookings. This anticipated increase is in line with the company's previous performance and market trends.
SeaMoney, the company's financial services division, is set to exercise prudent risk management strategies. The overall outlook for Sea Ltd in 2024 is optimistic, with expectations of another profitable year. This sentiment is encapsulated in the analyst's comment, which underscores the company's robust performance and strategic initiatives across its diverse business segments.
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