MercadoLibre price target raised to $2,000 from $1,900 at Barclays

Barclays raised the firm’s price target on MercadoLibre to $2,000 from $1,900 and keeps an Overweight rating on the shares. The analyst says gross merchandise volume excluding currency came in well ahead on worsening inflation in Argentina while the nearly 30% unit growth is a clear positive. The firm, however, is “growing a bit more cautious on whether the stock continues to work as it faces very tough compares through 2024.”