MercadoLibre price target lowered to $2,150 from $2,400 at BTIG

BTIG lowered the firm’s price target on MercadoLibre (MELI) to $2,150 from $2,400 and keeps a Buy rating on the shares post the earnings report. The company surprised investors with a downward revision to its operating margins from 79% to something near the 7% margin realized in Q1, the analyst tells investors in a research note. However, BTIG believes MercadoLibre’s investments will bring a “bigger and even more dominant” platform in the long-term.