Goldman Sachs lowered the firm’s price target on MercadoLibre (MELI) to $2,640 from $2,750 and keeps a Buy rating on the shares. The company is expected to report another solid quarter in terms of GMV momentum across its key markets in Q1, the analyst tells investors in a research note. A y/y margin rebound in Argentina, lower rates in Mexico and Argentina, and overall operating leverage should also provide a partial offset to temporary pressures, the firm added.
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