BofA raised the firm’s price target on MercadoLibre to $2,250 from $2,000 and keeps a Buy rating on the shares. Q2 GMV strength “appears to have surprised most observers,” says the analyst, who is raising the firm’s long-term GMV CAGR to 21% from 16%, citing consolidation and channel shift, logistics and shipping, pricing, and multiple UX improvements capable of extending elevated GMV growth.
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