MercadoLibre price target lowered to $1,940 from $1,990 at Citi

Citi analyst Joao Pedro Soares lowered the firm’s price target on MercadoLibre to $1,940 from $1,990 and keeps a Buy rating on the shares after the firm updated its model to reflect Q4 results and a “slightly more conservative view” on short-term margins due to greater logistics investments. However, the firm maintains confidence in MercadoLibre’s ability to grow commerce above the industry, especially in Brazil, the analyst tells investors.