Barclays lowered the firm’s price target on MercadoLibre (MELI) to $2,200 from $2,500 and keeps an Overweight rating on the shares post the Q3 report. The firm reduced fiscal 2024 and 2025 estimates following the Q3 miss. Consensus estimates will likely to trickle lower through Q4 as the implications of lower NIMAL credit card drag get layered in, the analyst tells investors in a research note.
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