MercadoLibre price target raised to $1,900 from $1,550 at Citi

Citi raised the firm’s price target on MercadoLibre to $1,900 from $1,550 and keeps a Buy rating on the shares. The company’s results continue to outperform expectations as its core commerce is growing ahead of forecasts and the pace of margin expansion “has been remarkable,” the analyst tells investors in a research note. The firm expects MercadoLibre’s product sales to drive commerce revenue, especially in Brazil, while credit concession “should be a key lever” for fintech sales.