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Fly News Breaks for December 17, 2015
MELI
Dec 17, 2015 | 11:58 EDT
Piper Jaffray analyst Gene Munster says the 65% Argentine Peso devaluation relative to the U.S. dollar that occurred overnight was largely expected by investors. The devaluation happened after the new Argentine government elected to move to a free-floating exchange. While the devaluation negatively impacts MercadoLibre's revenue, the impact to its earnings is slightly positive, Munster tells investors in a research note. He reiterates an Overweight rating on the stock with a $150 price target.
News For MELI From the Last 2 Days
MELI
Apr 24, 2024 | 08:03 EDT
Jefferies lowered the firm's price target on MercadoLibre to $1,400 from $1,650 and keeps a Hold rating on the shares. A recent ramp in investments could pressure EBIT near-term, though continued momentum in GMV, Advertising, and Credit "would keep the long-term story alive," the analyst tells investors in a preview note for the U.S. Internet group.
MELI
Apr 24, 2024 | 07:21 EDT
MELI
Apr 23, 2024 | 09:26 EDT
DZ Bank upgraded MercadoLibre to Buy from Hold with a $1,685 price target.
