UPDATE: Morgan Stanley Reiterates On Mercadolibre On Heightened Macro Risks
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
|Mar 2017||Barclays||Initiates Coverage On||Overweight|
|Jan 2017||Bank of America||Upgrades||Neutral||Buy|
|Dec 2016||Goldman Sachs||Upgrades||Neutral||Buy|
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