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MELI

MercadoLibre

$168.46

-14.75 (-8.05%)

07:07
10/14/16
10/14
07:07
10/14/16
07:07

MercadoLibre 7.1M share Secondary priced at $168.00

The deal size was increased to 7.1M shares from 5.5M shares. Morgan Stanley and JPMorgan acted as joint book running managers for the offering.

  • 14

    Oct

MELI MercadoLibre
$168.46

-14.75 (-8.05%)

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."
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.
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.
10/13/16
SBSH
10/13/16
NO CHANGE
Target $83.5
SBSH
Sell
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.

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