Investors should scoop up shares of e-commerce company Sea , according to Deutsche Bank. The bank upgraded the tech conglomerate to buy from hold. It also lifted its price target to $170 from $165. The new forecast signals 19% upside. Analyst Peter Milliken raised his rating after the company posted third-quarter results that beat expectations. SE YTD mountain SE YTD chart “SEA had another strong quarter for revenue, which rose 38%, however profit was unable to hold recent highs, due to growth investments. This has been poorly received by a market that seemed to have become complacent about the cost of maintaining competitive barriers in e-commerce,” Milliken wrote. “We think it normal for internet platforms to pass on efficiency gains, and invest more heavily during an up-wave of demand.” The analyst applauded the company’s growing order volume in its Shopee e-commerce platform, noting that artificial intelligence has helped lift buyer engagement. He added that Shopee is currently gaining market share. He also highlighted that Sea’s Garena gaming publisher was its “stand-out division,” with new games helping to improve engagement and spend. “Bookings were up 60% YoY, helped by paying users rising YoY from 8.0% to 9.8%, while quarterly active users rose 7% YoY,” he wrote. “The company continues to guide to Garena bookings rising 30% YoY in 2025, and that should easily be achieved.” Sea is up 34% this year despite their recent slump. The stock is down 28% from its September highs, which makes it even more attractive for Milliken.
