Sea Limited Sees Big Gains as Stock Jumps 8%

  • Stock Market News
Sea Limited Sees Big Gains as Stock Jumps 8%
Credit: © Reuters.

By Kim Khan You may not recognize Sea Limited , but with Asian companies struggling due to the worries about the Wuhan coronavirus again today it may be sharp to look at the this stock soaring.

Sea Limited is a Singapore-based internet company that Goldman Sachs (NYSE: GS ) just elevated to its coveted Conviction List.

Shares of Sea Limited (NYSE: SE ) rose 8% in afternoon trading.

Sea Limited operates digital entertainment, digital financial services and e-commerce.

It runs such brands as gaming company Garena, Southeast Asia shopping site Shopee and payment processor AirPay.

Goldman boosted the stock to conviction buy from buy and raised its price taget to $50 from $42.50.

Goldman analyst Miang Chuen Koh cited its e-commerce business as the highlight for the company.

The stock is already up more than 67% in the last three months. But all 11 analysts surveyed by still maintain a buy rating on the stock.

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