In a report released on November 21, Andrew R. Ruben from Morgan Stanley maintained a Buy rating on Mercadolibre, with a price target of $2,950.00.
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Andrew R. Ruben has given his Buy rating due to a combination of factors that highlight Mercadolibre’s strategic positioning and growth potential in the Latin American market. The company’s significant investments in eCommerce within Brazil are showing promising results, with an uplift in growth and key marketplace engagement metrics. This is evidenced by an acceleration in gross merchandise volume and an increase in active buyers, which management attributes to both new and re-activated users.
Furthermore, Mercadolibre’s strategic focus on logistics, credit, and marketing is expected to continue driving growth, supported by efficiencies and maturation benefits. Despite competitive pressures, the company’s rational approach to the market and consistent performance updates suggest a positive outlook. With shares trading near the bear case scenario but fundamentals aligning more closely with the base case, Ruben sees a disconnect that presents an opportunity, thus reinforcing the Buy rating.
In another report released on November 21, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $2,312.00 price target.
MELI’s price has also changed moderately for the past six months – from $2601.970 to $1951.780, which is a -24.99% drop .