MercadoLibre price target lowered to $1,550 from $1,625 at Barclays

Barclays lowered the firm’s price target on MercadoLibre to $1,550 from $1,625 and keeps an Overweight rating on the shares ahead of the Q3 report. The analyst sees “investor fatigue” around the “health of consumer” debate heading into the Q3 reports for the SMID cap e-commerce names. Most names are down double digits since last print, far more than consensus estimates revisions, the angsty tells investors in a research note. The firm says capital market volatility, the Middle East conflict and student loan repayment may further erode consumer confidence and stock narratives.