MercadoLibre initiated with a Buy at Redburn Atlantic

Redburn Atlantic initiated coverage of MercadoLibre with a Buy rating and $2,800 price target The firm says the company “sits in the intersection between” the retail e-commerce evolution in Latin America and the disruption of traditional banking in the region. Now is “an opportune time for investors to act, with potential upside of 40% over the next 12 months,” the analyst tells investors in a research note. Redburn believes MercadoLibre’s “strong brand, extensive inventory, loyal customer base and growing fulfilment capabilities suggest years of very strong growth.”