The price target increase reflects JPMorgan's positive outlook on Sea's e-commerce platform Shopee, which the firm believes is positioned to enhance monetization and reinvest revenues into growth initiatives. JPMorgan analyst Ranjan Sharma based the new price target on financial forecasts through June 2026, noting that improvements in the e-commerce industry should allow Shopee to unlock advertising revenues and benefit from reduced logistics costs. The firm highlighted that Sea's strategy could lead to higher customer engagement and a widening competitive advantage through improved customer experience and ecosystem informational advantages that also support the company's fintech business. JPMorgan identified Sea's deployment strategy for its growing cash position and rising cash flows as a key unknown factor that could impact future performance.