MercadoLibre price target raised to $2,150 from $2,000 at JPMorgan

JPMorgan raised the firm’s price target on MercadoLibre to $2,150 from $2,000 and keeps an Overweight rating on the shares. The analyst cites the company’s lower cost of capital for the target bump. The firm expects a normalization from Q4 peak subsidies level already in Q1, and incorporated stronger credit results and lower currency losses on the repatriation of MercadoLibre’s Argentina cash.