MercadoLibre price target lowered to $2,600 from $2,900 at Barclays

Barclays lowered the firm’s price target on MercadoLibre (MELI) to $2,600 from $2,900 and keeps an Overweight rating on the shares. The company reported a sales beat as unit growth accelerated further, but operating missed miss excluding items, the analyst tells investors in a research note. The firm believes tougher compares and estimates cuts “could keep shares in check near-term.”