Citi lowered the firm’s price target on MercadoLibre (MELI) to $2,700 from $2,850 and keeps a Buy rating on the shares. Citi also opened a “30-day upside catalyst watch” on MercadoLibre ahead of the Q3 report. The firm attributes the stock’s recent selloff to Argentina macro and competitive concerns. Citi is positive on the company’s growth in Brazil and Mexico. The analyst sees MercadoLibre shares rebounding should Citi’s growth estimates prove accurate.
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Read More on MELI:
- Why MercadoLibre Stock (MELI) is the Buy-the-Dip Opportunity of 2025
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