Morgan Stanley Remains Muted on Mercadolibre Following 4Q13 EPS

In a report published Friday, Morgan Stanley analyst Michel Morin reiterated an Underweight rating and $75.00 price target on Mercadolibre MELI. In the report, Morgan Stanley noted, “Results beat consensus and MSe, but KPIs were mixed. MELI is an ecommerce leader in Latam with solid long-term growth potential, but we continue to find valuation rich, especially in light of heightened macro risks. We remain UW with a $75 target.” Mercadolibre closed on Thursday at $94.23.