Wedbush analyst Scott Devitt raised the firm’s price target on MercadoLibre to $1,800 from $1,700 to reflect the latest views heading into 2024, while keeping an Outperform rating on the shares. The firm notes MercadoLibre is the leading e-commerce platform in Latin America, with the largest market share of online retail in its three key markets of Brazil, Argentina, and Mexico in addition to operating a scaled digital financial services business that is on pace to process over $176B in payments volume this year on a path to $221B in 2024.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MELI:
- MercadoLibre Stock (NASDAQ:MELI) May Face Valuation Headwinds after 77% Rally
- Vtex price target raised to $6.50 from $5.50 at JPMorgan
- Redburn Atlantic LatAm fintech analysts to hold analyst/industry conference call
- MercadoLibre price target raised by $285 at BTIG, here’s why
- E-Commerce: Shopping For Investments