JPMorgan analyst Marcelo Santos lowered the firm’s price target on MercadoLibre (MELI) to $2,650 from $2,800 and keeps an Overweight rating on the shares. The firm updated the company’s model post the Q4 report. Weakness in MercadoLibre’s margins seems temporary, caused partially by the company’s response to the competitive cycle in Brazil, the analyst tells investors in a research note. JPMorgan says its long-term view on the shares is not materially changed.
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