SE 1Q24 Results: Improving Margin Outlook
What’s new: SE’s reported 1Q24 results were above consensus and our expectations. E-commerce could remain resilient where Shopee adjusted EBITDA is on track to turn positive in 2H24. We up our PT from USD70 to USD75 on improving margin outlook. Our revised PT of USD75 implies 2.5x FY25E EV/Rev. We maintain our BUY rating.Analysts:
Jin Yoon
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.