Why Sea Limited Floated Above the Market on Monday

Sea Limited (NYSE: SE) stock had a down day on Monday, but it still beat the performance of the S&P 500 index. The former lost 0.4% of its value across the trading session, but that was smooth sailing compared to the index's 1.7% drop. At least some of this was due to a high-profile investment bank's effective endorsement of the stock.

On Sunday, Pang Vittayaamnuakoon of Goldman Sachs (NYSE: GS) initiated coverage on Sea stock with a $196-per-share price target and a buy recommendation. This puts Vittayaamnuakoon and Goldman firmly in the bull camp, as that level is a rich 72% above the stock's most recent closing price.

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Source Fool.com