Shopee's Drive for Profitability Looks Impressive -- Market Talk

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Shopee's Drive for Profitability Looks Impressive -- Market Talk

Dow Jones2023-03-08

0421 GMT - Sea Ltd.'s drive to reach profitability looks impressive, Daiwa Capital Markets analysts say in a research report, raising the American Depositary Receipt's target price to US$72.00 from US$65.00 with an unchanged hold rating. Its Shopee e-commerce platform's adjusted Ebitda turned positive in 4Q for the first time, with Daiwa's analysts surprised by Shopee's strong efforts to cut losses. The Singapore-based consumer internet company's digital financial services Ebitda also turned positive for the first time, with management mentioning on its earnings call that the key performance indicator for this business is to improve the quality of the loan book and profitability, the analysts say. Sea Ltd.'s ADRs closed 22% higher at US$80.06 on Tuesday. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

March 07, 2023 23:21 ET (04:21 GMT)

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虎威将
·2023-03-08
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