MercadoLibre price target raised to $1,100 from $1,050 at Citi

Citi analyst Joao Pedro Soares raised the firm’s price target on MercadoLibre to $1,100 from $1,050 and keeps a Buy rating on the shares after updating his estimates to factor in Q3 results, Citi’s new macro forecasts and assumptions for higher margins. MercadoLibre remains "the most solid case for investors looking to keep their exposure to secular LatAm e-commerce growth," Soares contends.