A solid first-quarter report recently boosted shares of Sea Limited (NYSE: SE). The company also convinced several Wall Street analysts that its business is worth more than its market valuation.

Benchmark analyst Fawne Jiang recently raised her price target for the e-commerce, entertainment, and finance conglomerate to $87 per share. The new target implies a gain of about 31% from recent prices.

Sea Limited stock is still miles below the peak it reached in 2021, but Jiang has plenty of reasons to expect big gains ahead. The company's e-commerce division reported first-quarter gross merchandise volume that soared 36% year over year, thanks to its unmatched logistical capability.

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Source Fool.com