JPMorgan lowered the firm’s price target on MercadoLibre (MELI) to $2,150 from $2,400 and keeps a Neutral rating on the shares. The firm updated estimates following the Q3 results, incorporating higher logistical subsidies and lower NIMALs for the following periods, as it believes the sharp decline in spreads seen in Q3 is mostly on structural causes.
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Read More on MELI:
- MercadoLibre price target lowered to $2,200 from $2,500 at Barclays
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- MercadoLibre price target lowered to $2,300 from $2,530 at Cantor Fitzgerald
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