As previously reported, BTIG analyst Marvin Fong downgraded MercadoLibre to Neutral from Buy, stating that the stock's 94% advance year-to-date has fixed the "glaring price inefficiency" that its stock price had previously represented. The analyst, who formerly had a $610 price target on MercadoLibre shares, now sees the risk-reward as balanced and thinks now is a good time to step back and see how "the highly dynamic LatAm fintech landscape plays out," he tells investors. Additionally, on the e-commerce side, Fong noted that Brazil's economy is underperforming.

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.

DZ Bank upgraded MercadoLibre to Buy from Hold with a $1,685 price target.