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Fly News Breaks for February 20, 2020
MELI
Feb 20, 2020 | 07:30 EDT
BTIG analyst Marvin Fong raised his price target on MercadoLibre to $820 and kept his Buy rating, saying that while the stock has outperformed the broader market with a 30% year-to-date rally, he also sees it as attractively valued relative to the "tremendous opportunity ahead of it." The analyst contends that the company's Latin America digital transformation is only beginning, with 0.8M QR collectors in Brazil vs. 6M retailers in the country overall.