On this, CGS-CIMB’s Ong Kang Chuen and Kenneth Tan downgraded Sea from a “buy” to a “hold”, slashing their target price sharply from US$150 to US$92.
Analysts are mixed over on tech conglomerate Sea after the company extended its losses in its 2QFY2022 results ended June 30.
Sea saw its losses more than double in 2QFY2022 compared to 2QFY2021, going from US$433 million ($595.66 million) to US$931 million, despite revenue for the company rising 29% for the quarter to US$2.9 billion.
