MercadoLibre price target lowered to $2,200 from $2,250 at BTIG

BTIG analyst Marvin Fong lowered the firm’s price target on MercadoLibre (MELI) to $2,200 from $2,250 and keeps a Buy rating on the shares. The stock fell as the company’s earnings report wasn’t as robust as investors have grown accustomed to, with Gross Merchandise Volume and Total Payment Volume both coming in shy of the Street, the analyst tells investors in a research note. BTIG adds however that while it is reducing its price target on a lower operating margin outlook, it continues to like MercadoLibre’s strong market position and its aggressive moves to capture share.