New Street: SE 2Q21 Results - Raising Guidance for FY21
What’s new: SE reported 2Q21 results were above consensus and our expectations driven by resiliency in e-commerce coupled with robust digital entertainment segment as Free Fire continues to gain traction across its market coverage. The revised guidance reflects resiliency across its business segments. We increase our PT from USD325 to USD350, which implies 12.5x EV/Revs on our FY22 revenue estimates.Analysts:
Jin Yoon
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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
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We provide debt research on:
- Pan European Telecom Services and Cable
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