Citi analyst Joao Pedro Soares raised the firm’s price target on MercadoLibre (MELI) to $2,480 from $2,200 and keeps a Buy rating on the shares, citing a three-month target price rollover, lower cost of equity assumptions driven by lower country risk in Brazil and the consistent results that have resulted in lower volatility for the stock.
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Read More on MELI:
- MercadoLibre initiated with a Buy at Redburn Atlantic
- MercadoLibre price target raised to $2,500 from $2,100 at Barclays
- MercadoLibre downgraded to Neutral from Overweight at JPMorgan
- MercadoLibre initiated with an Outperform at Raymond James
- MercadoLibre price target raised to $2,500 at Morgan Stanley