Morgan Stanley lowered the firm’s price target on MercadoLibre (MELI) to $2,450 from $2,600 and keeps an Overweight rating on the shares. The firm “again underestimated MELI’s investment scope,” but GMV, credit, and capabilities have “also scaled beyond our expectation,” the analyst tells investors. 2026 is “shaping up as a lost year for EBIT,” while seeing outsized revenue growth and margin recapture to come, the analyst added.
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