Jefferies last night downgraded MercadoLibre (MELI) to Hold from Buy with a price target of $2,800, up from $2,450. The firm cites the company’s higher levels of profitability and cash flow in 2029 and beyond for the target increase. It continues to view MercadoLibre as a high quality long-term holding in Latin America, “with multiple ongoing growth opportunities.” However, with the shares up over 50% year-to-date and following a strong relative performance in 2023, it downgrades the shares on valuation.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MELI:
- MercadoLibre downgraded to Hold from Buy at Jefferies
- MercadoLibre price target raised to $3,000 from $2,500 at UBS
- Mercadolibre’s Strategic Banking Move and Credit Improvement Reinforce Buy Rating
- MercadoLibre (MELI) Emulates Amazon as Latin American Takeover Continues
- MercadoLibre price target raised to $2,600 from $2,250 at JPMorgan
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue