MercadoLibre price target lowered to $2,400 from $3,000 at Cantor Fitzgerald

Cantor Fitzgerald analyst Deepak Mathivanan lowered the firm’s price target on MercadoLibre (MELI) to $2,400 from $3,000 and keeps an Overweight rating on the shares. The Q1 earnings season for the firm’s internet coverage universe kicks off next week and Cantor tells investors that results are likely to bring “mixed signals” due to growing macro uncertainties, tariff impacts on current and future demand, and consumer pull-in ahead of tariffs. The firm believes a defensive strategy with potential to play idiosyncratic themes is “the right approach to generate alpha” in Q1 earnings season from the internet group, adding that it has factored in a degree of macro slowdown in its Q2 and second half estimates.