Market Overview

UPDATE: Stifel Nicolaus Downgrades MercadoLibre to Sell on Amazon Pressure

Share:
Related MELI
A Peek Into The Markets: US Stock Futures Up Ahead Of Fed Meeting
Benzinga's Top Upgrades, Downgrades For November 14, 2018

Stifel Nicolaus lowers its rating on MercadoLibre (NASDAQ: MELI) from Hold to Sell as Amazon (NASDAQ: AMZN) moves into Brazilian eCommerce, likely contracting the company's multiple.

Stifel Nicolaus notes, "We have reduced our rating on shares of MELI from Hold to Sell. Competition in Brazilian eCommerce is intensifying -- Amazon (AMZN, Buy, $92.86) reportedly will be targeting Sao Paulo Brazil later this year with what appears to be a full eCommerce offering. This comes on the heels of the announcement two weeks ago of Rakuten's new online mall offering in Brazil. We have introduced a current fair value range of $70-$75, around 25x 2013 EPS, as we believe MELI's trading multiple will contract to reflect increased risk to future estimates."

MELI closed at $92.81 on Friday.

Latest Ratings for MELI

DateFirmActionFromTo
Dec 2018KeyBancInitiates Coverage OnSector Weight
Nov 2018BTIG ResearchInitiates Coverage OnBuy
Nov 2018BarclaysMaintainsOverweightOverweight

View More Analyst Ratings for MELI
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

Related Articles (AMZN + MELI)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
DESPKeyBancInitiates Coverage On0.0
MELIKeyBancInitiates Coverage On0.0
ALBKeyBancMaintains120.0
AVNSKeyBancMaintains67.0
ABTCredit SuisseInitiates Coverage On82.0
View the Latest Analytics Ratings
Don't Miss Out!
Join Our Newsletter
Subscribe to:
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
Your weekly roundup of hot topics in the exciting world of fintech.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

Van Eck May List 2 Saudi Arabia ETFs

UPDATE: Stifel Nicolaus Upgrades Madison Square Garden to Buy with $45 PT on Q1 Upside