DBS analyst Nashrullah Putra Sulaeman has maintained their bullish stance on MELI stock, giving a Buy rating on May 14.
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Nashrullah Putra Sulaeman has given his Buy rating due to a combination of factors including Mercadolibre’s impressive financial performance and strategic growth initiatives. The company reported a significant net profit increase of 44% year-over-year, surpassing market expectations by nearly 10%, primarily driven by strong growth in its fintech segment and improved profit margins.
Additionally, Mercadolibre’s e-commerce segment has shown robust growth, with a notable 108% increase in revenue, supported by enhanced logistics capabilities that improve delivery times and customer satisfaction. Despite challenges such as high non-performing loan ratios and macroeconomic volatility in Latin America, the company’s strategic focus on fintech and logistics, along with its ability to adapt to regional economic conditions, supports the positive outlook and Buy recommendation.
According to TipRanks, Putra Sulaeman is ranked #1356 out of 9519 analysts.
In another report released on May 14, Goldman Sachs also maintained a Buy rating on the stock with a $3,000.00 price target.
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