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Fly News Breaks for June 23, 2017
MELI
Jun 23, 2017 | 08:23 EDT
Citi downgraded MercadoLibre to Neutral saying they made an error in the long-term revenue growth forecast in Venezuela published June 19, which led to an overestimation in valuation. As a result, the firm's analyst cut its price target to $280 and said shares no longer warrant a Buy rating.