MercadoLibre price target raised to $2,760 from $2,350 at Susquehanna

Susquehanna analyst James Friedman raised the firm’s price target on MercadoLibre (MELI) to $2,760 from $2,350 and keeps a Positive rating on the shares. The firm said they reported very good commerce volumes driven by Brazil and Argentina which when coupled with the 3P emphasis, expanded adtech, balanced credit growth and a closely managed NIMAL, drove a meaningful beat in adjusted EBIT dollars and adjusted EBIT margins.