Cantor Fitzgerald lowered the firm’s price target on MercadoLibre (MELI) to $2,400 from $2,750 and keeps an Overweight rating on the shares. MercadoLibre beat Q4 revenue and EBIT estimates by 3% and 2%, respectively, with 37% year over year GMV growth ex-FX and strong fintech performance, including +40% acquiring TPV and +90% credit portfolio growth, the analyst tells investors in a research note. The firm says its fundamental bullish outlook remains intact.
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