JPMorgan analyst Marcelo Santos raised the firm’s price target on MercadoLibre (MELI) to $2,700 from $2,600 and keeps a Neutral rating on the shares. The firm updated the company’s estimates post the Q2 report. MercadoLibre is entering a phase of higher competition following two years of “relatively calm markets” in Brazil, the analyst tells investors in a research note.
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