Morgan Stanley analyst Andrew R. Ruben maintained a Buy rating on Mercadolibre (MELI – Research Report) yesterday and set a price target of $2,650.00.
Andrew R. Ruben has given his Buy rating due to a combination of factors including Mercadolibre’s impressive revenue growth across key markets. Argentina’s recovery in profitable growth was particularly notable, despite the challenges posed by currency devaluation. The company’s ability to maintain stable contribution profit trends in major markets like Brazil and Mexico, alongside Argentina, indicates robust financial health.
Mercadolibre’s strategic focus on logistics and fintech services has also contributed to this positive outlook. The efficiency improvements in its logistics network and the expansion of logistics fees have strengthened its commerce operations. Additionally, the company’s investment in AI, talent, and fintech positions it well for future growth. These elements combined support Ruben’s recommendation of Mercadolibre as a top pick for investors, with an increased price target reflecting the anticipated profitable growth momentum.
In another report released on February 21, Bank of America Securities also reiterated a Buy rating on the stock with a $3,000.00 price target.