Bank of America Securities analyst Robert Ford has maintained their bullish stance on MELI stock, giving a Buy rating on September 10.
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Robert Ford has given his Buy rating due to a combination of factors, primarily the favorable outcome of the Mexican anti-trust investigation. The investigation, which focused on Mercadolibre and Amazon, concluded without imposing any remedies on Mercadolibre. This outcome is seen as positive for the company, as it avoids potential regulatory constraints that could have impacted its operations.
Additionally, Mercadolibre’s significant contribution to the Mexican economy and its support for small and medium-sized enterprises (SMEs) further justify the Buy rating. The company has enabled over a million entrepreneurs and SMEs to generate substantial economic activity and create thousands of jobs. This solidifies its position as a critical player in the market, supporting its growth prospects and justifying the price objective set by Robert Ford.
According to TipRanks, Ford is ranked #2819 out of 9983 analysts.
In another report released on September 10, Benchmark Co. also maintained a Buy rating on the stock with a $2,875.00 price target.