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Fly News Breaks for August 6, 2015
MELI
Aug 6, 2015 | 05:36 EDT
Piper Jaffray analyst Gene Munster says MercadoLibre's margin miss in Q2 is not as bad as it looks since more than half of the weakness is due to currency and the remainder is due is to investing in the business. Munster sees little downside risk to margin going forward and keeps believes the company's story is intact. He lowered his price target for shares to $150 from $170 and keeps an Overweight rating on MercadoLibre.
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