MercadoLibre initiated with a Sell at Citigroup Citigroup initiated shares of MercadoLibre (MELI) with a Sell rating saying the company's sales are likely to grow only 9% in 2014 given the foreign currency risk in Venezuela and overall weakness of other Latin American currencies. Citi has an $80 price target for shares.
MercadoLibre price target raised to $155 from $130 at Stifel Stifel increased its price target on MercadoLibre after the company reported stronger than expected Q3 results which the firm views as impressive. The firm thinks the company is well-positioned to benefit from eCommerce growth in the Latin America regio. It keeps a Buy rating on the shares.
MercadoLibre upgraded to Buy from Underperform at BofA/Merrill BofA/Merrill upgraded MercadoLibre two notches to Buy from Underperform with a $150 price target, up from $77. The firm upgraded shares citing the strong Q3 report, improving trends, and a dramatically better outlook for Brazil.