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UPDATE: Morgan Stanley Reiterates On Mercadolibre On Heightened Macro Risks

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In a report published Friday, Morgan Stanley analyst Michel Morin reiterated an Underweight rating on Mercadolibre (NASDAQ: MELI), but lowered the price target from $70.00 to $64.00.

In the report, Morgan Stanley noted, “MELI is an ecommerce leader in Latam with solid long-term growth potential, but we continue to find valuation rich, in light of heightened macro risks. We trim our DCF-based target to $64 from $70 to reflect a higher assumed WACC, and we remain Underweight despite the recent pull-back.”

Mercadolibre closed on Thursday at $83.26.

Latest Ratings for MELI

DateFirmActionFromTo
May 2016JP MorganMaintainsNeutral
Apr 2016Cowen & CompanyInitiates Coverage onMarket Perform
Mar 2016JP MorganMaintainsNeutral

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