Loading...
Loading...
In a report published Monday, J.P. Morgan & Co. reiterated its Overweight rating on MercadoLibre
MELI, but lowered its price target from $100.00 to $93.00.
J.P. Morgan noted, “We remain positive on MELI, keeping our OW rating, as we see it as one of the best vehicles for exposure to the strong fundamentals of LatAm internet. In this report we explore the evolution of the Brazilian e-commerce market, which is growing fast but still has a significant way to go, in our view. We believe MELI trades at an attractive multiple (27x P/E 12m fwd) for a fast growing company (26% EPS CAGR'13E-15E). However, we reduce our price target to $93 on slightly lower market place growth coupled with weaker FX expectations.”
MercadoLibre closed on Friday at $74.88.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in