Scotiabank analyst Hector Maya initiated coverage of MercadoLibre (MELI) with an Outperform rating and $3,500 price target that is the “highest on the street.” MercadoLibre continues to “broaden its peerless moat” with unparalleled logistics and tech capabilities after about 25 years of investment in Latin America, says the analyst, who calls the stock the firm’s new “LatAm Retail Top Pick.” The firm views MercadoLibre as “uniquely well positioned to continue driving the move from physical to online retail in LatAm,” the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MELI:
- MercadoLibre price target lowered to $3,000 from $3,100 at Barclays
- ‘Party Like It’s 1999,’ Says BTIG as PLTR, MSTR, and Others Fuel Nasdaq Rally
- Mercadolibre’s Strategic Investments and Operational Momentum Justify Buy Rating
- MercadoLibre says S&P upgrades rating to ‘BBB-‘
- Positive Outlook and Strategic Positioning Drive Buy Rating for Mercadolibre