MercadoLibre price target raised to $1,460 from $1,100 at Citi

Citi analyst Joao Pedro Soares raised the firm’s price target on MercadoLibre to $1,460 from $1,100 and keeps a Buy rating on the shares after meeting with management. In conjunction with market share gains, the company reinforced the expected "sequential margin expansion," the analyst tells investors in a research note. The firm sees 20% upside in the shares.