As previously reported, Benchmark analyst Fawne Jiang initiated coverage of MercadoLibre (MELI) with a Buy rating and $2,500 price target MercadoLibre “stands out as a dominant regional leader in the global e-commerce setting,” says the analyst. Underpenetrated markets in Latin America are primed for significant growth in both online retail and fintech and the firm believes that the company offers investors “a robust sustainable long-term growth outlook” with a proven track record of local expertise and knowhow on top of strong execution, the analyst added.
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