These Analysts Lower Their Forecasts On Sea After Weak Q2 Results

Sea Limited SE reported worse-than-expected second-quarter financial results.

Sea reported second-quarter FY23 revenue growth of 5.2% year-on-year to $3.096 billion, missing the consensus of $3.420 billion. Adjusted EPS of $0.54 missed the consensus of $0.69.

Sea shares fell 28.7% to close at $40.58 on Tuesday.

These analysts made changes to their price targets on Sea following earnings announcement.

• B of A Securities cut the price target on Sea from $73 to $53. B of A Securities analyst Sachin Salgaonkar maintained a Neutral rating.
• Bernstein slashed the price target on Sea from $90 to $70. Bernstein analyst Venugopal Garre maintained an Outperform rating.
• Citigroup analyst Alicia Yap downgraded Sea from Buy to Neutral and announced a $50 price target.

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