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MELI

MercadoLibre

$691.15

3.03 (0.44%)

, ARGT

Global X MSCI Argentina ETF

$33.37

1.395 (4.36%)

09:14
08/12/19
08/12
09:14
08/12/19
09:14

MercadoLibre sinks after pro-business Argentina president loses primary

Shares of MercadoLibre (MELI) are sinking after Argentina's President Mauricio Macri, who is known for being pro-business, lost a primary election on Sunday. In a nationwide primary, Macri received 32% support versus 47% for his opponent, Alberto Fernandez, with more than 80% of the ballots counted, the government said, according to the Wall Street Journal. Fernandez is a member of the Peronist movement whose vice presidential running mate is ex-President Cristina Kirchner, the "firebrand nationalist," according to the Journal. Shares of MercadoLibre (MELI), whose new fintech business is in Argentina, are down 10%, or $66.10, to $624.00 in premarket trading. The Global X MSCI Argentina ETF (ARGT) is down 20%, or $6.75, to $26.61.

MELI

MercadoLibre

$691.15

3.03 (0.44%)

ARGT

Global X MSCI Argentina ETF

$33.37

1.395 (4.36%)

  • 10

    Sep

MELI MercadoLibre
$691.15

3.03 (0.44%)

08/07/19
FBCO
08/07/19
NO CHANGE
Target $710
FBCO
Outperform
MercadoLibre price target raised to $710 from $640 at Credit Suisse
Credit Suisse analyst Stephen Ju raised his price target for MercadoLibre to $710 from $640 ahead of quarterly results as he rolls forward his valuation parameters to end-2020. The analyst reiterates an Outperform rating on the shares.
08/08/19
PIPR
08/08/19
NO CHANGE
Target $675
PIPR
Overweight
MercadoLibre price target raised to $675 from $584 at Piper Jaffray
Piper Jaffray analyst Michael Olson raised his price target for MercadoLibre to $675 from $584 saying the company reported revenue upside in all major markets in Q2. MercadoLibre continues to balance investing in growth versus improving profitability, "with the scale currently tipping more towards growth," Olson tells investors in a research note. He believes investors will be receptive to the focus on growth and keeps an Overweight rating on the name.
08/08/19
SBSH
08/08/19
UPGRADE
Target $729
SBSH
Buy
MercadoLibre upgraded to Buy from Neutral at Citi
Citi analyst Tobias Stingelin upgraded MercadoLibre to Buy from Neutral and raised his price target for the shares to $729 from $609. The analyst views the company's Q2 results as "solid" and says that while EBITDA missed his estimate by 67%, this represents only $10M. More importantly, MercadoLibre's "growth rates remain stellar, and MELI is about growth," Stingelin tells investors in a research note. He cites the company's accelerating growth for his upgrade to Buy.
08/08/19
FBCO
08/08/19
NO CHANGE
Target $720
FBCO
Outperform
MercadoLibre price target raised to $720 from $710 at Credit Suisse
Credit Suisse analyst Stephen Ju raised his price target for MercadoLibre to $720 from $710 following quarterly results. The analyst reiterates an Outperform rating on the shares.
ARGT Global X MSCI Argentina ETF
$33.37

1.395 (4.36%)

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CLSD

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USNA

Usana

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PTITF

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