MercadoLibre price target raised to $1,245 from $1,130 at BTIG

BTIG analyst Marvin Fong raised the firm’s price target on MercadoLibre to $1,245 from $1,130 and keeps a Buy rating on the shares. The analyst states that his app tracking showed continued momentum for MercadoLibre on both the e-commerce and fintech sides, adding that the data was highlighted by net sequential gains in users while its top Brazil competitor in each segment saw "sizable declines". Fong further states that his app tracking data supports his prior view which drove him to make MercadoLibre a Top Pick in large- cap e-commerce.