Vtex price target raised to $6.50 from $5.50 at JPMorgan

JPMorgan analyst Marcelo Santos raised the firm’s price target on Vtex (VTEX) to $6.50 from $5.50 and keeps a Neutral rating on the shares after updating estimates following the company’s “strong” Q3 results and “constructive” guidance for Q4. However, the firm notes it is reducing numbers slightly for the coming years on the back of the negative impact of Argentinean devaluation. The firm currently favors MercadoLibre (MELI) and Totvs (TTVSY) in the LatAm Tech space, the analyst noted.