MercadoLibre price target raised to $3,100 from $2,500 at Barclays

Barclays raised the firm’s price target on MercadoLibre (MELI) to $3,100 from $2,500 and keeps an Overweight rating on the shares. The company’s “strong” Q1 report is likely to push consensus estimates higher, and support why MercadoLibre is an attractive name in e-commerce, the analyst tells investors in a research note. The firm says momentum in Argentina is driving margin higher even as growth investments and credit cards weigh on Brazil and Mexico.