Cantor Fitzgerald initiated coverage of MercadoLibre with an Overweight rating and $2,530 price target, while assigning the stock “Top Pick status.” The firm’s bullish view is predicated on three points: the view that the fundamental outlook is “solid” in both the fintech and e-commerce businesses; the fact that negative revisions appear to be mostly behind the company; and the belief that valuation has room to expand.
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