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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Read More on MELI:
- MercadoLibre price target lowered to $2,450 from $2,500 at Morgan Stanley
- MercadoLibre (MELI): Attractive Long-Term Opportunity Despite Post-Earnings Dip
- MercadoLibre price target lowered to $2,300 from $2,530 at Cantor Fitzgerald
- MercadoLibre price target lowered to $2,200 from $2,250 at BTIG
- MercadoLibre Reports Strong Q3’24 Financial Growth
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