0218 GMT - Sea Ltd. stands to benefit from likely better-than-expected profitability of Garena and Shopee, Daiwa Capital Markets analysts say in a research report. Its digital entertainment arm Garena's bookings grew 51% on year in 1Q partly thanks to the Lunar New Year holiday, the analysts note. Garena will launch 'Free City' game in different phases in various markets, which will mark its initial step to become a multi-genre developer, the analysts say. Its e-commerce platform Shopee's orders grew 20.5% on year in 1Q, with Daiwa forecasting Shopee's 2Q adjusted Ebitda to be $173 million, driven by ads take rate expansion and logistics cost optimization. Daiwa raises Sea's ADR target price to $200.00 from $180.00 with an unchanged buy rating. The ADRs last closed at $154.13. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 13, 2025 22:18 ET (02:18 GMT)
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