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MELI

MercadoLibre

$183.21

-1.26 (-0.68%)

, EBAY

eBay

$31.50

0.04 (0.13%)

10:35
10/13/16
10/13
10:35
10/13/16
10:35

eBay stake sale creates 'large overhang' for MercadoLibre, says Citi

Citi analyst Lucio Aldworth sees several reasons why eBay's (EBAY) sale of a majority of its stake in MercadoLibre (MELI) creates a "large overhang" on the latter's shares. Namely, he believes the market has always seen eBay as a plausible candidate to take over MercadoLibre, but he thinks this action should remove any M&A premium currently priced into the stock. Additionally, Aldworth notes that eBay said its commitment to Latin America e-commerce remains unchanged, which could mean it will eventually enter the market directly, intensifying competition for MercadoLibre. Aldworth keeps a Sell rating on MercadoLibre shares, which are down 8% in early trading to $168.40.

MELI

MercadoLibre

$183.21

-1.26 (-0.68%)

EBAY

eBay

$31.50

0.04 (0.13%)

  • 19

    Oct

  • 23

    Oct

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    Nov

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    Oct

MELI MercadoLibre
$183.21

-1.26 (-0.68%)

10/13/16
BARD
10/13/16
NO CHANGE
Target $35
BARD
Outperform
eBay sale of MercadoLibre stake adds financial flexibility, says Baird
Baird analyst Colin Sebastian said eBay's (EBAY) sale of a majority of its investment stake in MercadoLibre (MELI) will provide eBay with both financial and strategic flexibility. The analyst believes the capital will allow eBay to increase share buybacks, make strategic acquisitions, or expand more aggressively in Latin America under a new strategic agreement with MercadoLibre. Sebastian maintained his Outperform rating and $35 price target on eBay shares.
09/02/16
09/02/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. MercadoLibre (MELI) upgraded to Overweight from Neutral at JPMorgan by analyst Andre Baggio, who said the Brazilian marketplace is thriving, and MercadoLibre is gaining market share. 2. Teva (TEVA) upgraded to Outperform from Perform at Oppenheimer by analyst Rohit Vanjani, who points out that the validity of Teva's Copaxone patents now lies with the District Court decision after the inter partes reviews by the USPTO. Vanjani believes the court ruling, which will likely come in early 2017, is the more important of the two, with a higher hurdle to invalidate the patents. 3. Pioneer Energy (PES) upgraded to Buy from Hold at Jefferies by analyst Brad Handler, who argues that the 24% pullback in shares since the early July peak provides an attractive valuation. The analyst believes Pioneer's covenant risk can be managed and raised his price target for the shares to $6 from $5. 4. Amec Foster Wheeler (AMFW) upgraded to Buy from Neutral at BofA/Merrill. 5. Mitsubishi UFJ (MTU) upgraded to Outperform from Neutral at Daiwa. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/02/16
JPMS
09/02/16
UPGRADE
Target $200
JPMS
Overweight
MercadoLibre upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Andre Baggio upgraded MercadoLibre to Overweight and raised his price target for the shares to $200 from $133. The Latin America online commerce platform closed yesterday up $1.68 to $173.68. The Brazilian marketplace is thriving, and MercadoLibre is gaining market share, Baggio tells investors in a research note. He expects the share price to be driven by earnings growth, despite the "rich valuation."
08/30/16
PIPR
08/30/16
NO CHANGE
Target $185
PIPR
Overweight
MercadoLibre listings growth continues, says Piper Jaffray
Piper Jaffray analyst Gene Munster says his firm's proprietary web analytics indicates MercadoLibre's listings growth continues at an "impressive rate." For July, the analyst thinks the company's unit growth was 85%. MercadoLibre's platform is "gaining steam with suppliers due to improvements in the site," Munster tells investors in a research note. He reiterates an Overweight rating on the shares with a $185 price target.
EBAY eBay
$31.50

0.04 (0.13%)

10/13/16
10/13/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Aaron's (AAN) initiated with a Buy at Jefferies. 2. eBay (EBAY) and Etsy (ETSY) coverage assumed with a Neutral at Wedbush. 3. Five Below (FIVE) and Dollar Tree (DLTR) were initiated with an Overweight at KeyBanc while the firm initiated Dollar General (DG) with a Sector Weight. 4. Baxter (BAX) initiated with an Outperform at Wells Fargo. 5. Symantec (SYMC) initiated with an Outperform at FBN Securities. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/13/16
WEDB
10/13/16
INITIATION
WEDB
Neutral
eBay coverage assumed with a Neutral at Wedbush
Wedbush analyst Aaron Turner says that eBay's e-commerce initiatives should help slow its market share erosion. However, the analyst prefers to keep a Neutral rating on the shares until the company shows that its "recent growth is sustainable and/or accelerating." Target to $34 from $29.
10/10/16
RHCO
10/10/16
NO CHANGE
RHCO
eBay outlook has improved, says SunTrust
SunTrust analyst Robert Peck says he's more confident about eBay's turnaround following its beat and raise results. However, the analyst warns that the company's turnaround still has a long way to go, while its competition is increasing. Peck thinks that the stock could "re-rate" as the company's outlook becomes more certain, but he keeps a Hold rating on the shares.

TODAY'S FREE FLY STORIES

LIOX

Lionbridge

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CMCSA

Comcast

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0.24 (0.64%)

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Comcast

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TWX

Time Warner

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LGF.A

Lionsgate

$27.18

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LGF.B

Lionsgate

$25.16

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DIS

Disney

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FOX

21st Century Fox

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FOXA

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VIA

Viacom

VIAB

Viacom

$43.89

0.03 (0.07%)

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WAT

Waters

$156.40

1.51 (0.97%)

16:38
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  • 02

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CR

Crane

$73.21

1.18 (1.64%)

16:36
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DBOEY

Deutsche Boerse

$8.60

-0.045 (-0.52%)

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BCO

Brink's

$52.00

0.7 (1.36%)

16:33
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  • 02

    Mar

XOM

Exxon Mobil

$81.08

-0.7 (-0.86%)

16:28
02/26/17
02/26
16:28
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16:28
Conference/Events
Exxon Mobil to host analyst meeting with a conference call hook-up »

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TXMD

TherapeuticsMD

$5.84

0.2 (3.55%)

16:22
02/26/17
02/26
16:22
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TherapeuticsMD to host investor day »

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MYL

Mylan

$42.16

-0.17 (-0.40%)

16:19
02/26/17
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16:19
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16:19
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Mylan to host investor day with a conference call hook-up »

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MCD

McDonald's

$128.65

0.38 (0.30%)

16:16
02/26/17
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16:16
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McDonald's to host investor meeting »

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HSY

Hershey

$108.90

0.25 (0.23%)

16:13
02/26/17
02/26
16:13
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Conference/Events
Hershey to hold a webcast »

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  • 01

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SSNLF

Samsung

, FB

Facebook

$135.44

0.08 (0.06%)

16:10
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Samsung

FB

Facebook

$135.44

0.08 (0.06%)

03/08/13
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SSNLF

Samsung

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SSNLF

Samsung

, HAR

Harman

$111.44

0.34 (0.31%)

16:06
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HAR

Harman

$111.44

0.34 (0.31%)

03/08/13
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  • 19

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EFX

Equifax

$129.38

0.16 (0.12%)

16:06
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Equifax management to meet with investors »

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MRK

Merck

$66.16

0.31 (0.47%)

16:03
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EFX

Equifax

$129.38

0.16 (0.12%)

16:03
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  • 28

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NOK

Nokia

$5.14

-0.01 (-0.19%)

15:58
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TGT

Target

$66.51

1.53 (2.35%)

15:45
02/26/17
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GPRO

GoPro

$9.43

-0.14 (-1.46%)

15:42
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  • 28

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LGND

Ligand

$100.38

-2.46 (-2.39%)

15:40
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HURN

Huron

$44.30

-0.8 (-1.77%)

15:39
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  • 28

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ENS

EnerSys

$75.98

-0.77 (-1.00%)

15:36
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  • 28

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ERIC

Ericsson

$6.45

-0.08 (-1.23%)

15:36
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QCOM

Qualcomm

$57.22

0.08 (0.14%)

15:33
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