MercadoLibre price target lowered to $2,300 from $2,530 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on MercadoLibre (MELI) to $2,300 from $2,530 and keeps an Overweight rating on the shares post the Q3 report. The firm says accelerated growth in bad debt allowances and fixed cost inflation is likely to put pressure on MercadoLibre’s near-term margins. Despite this short-term headwind, the firm’s bullish thesis on the shares remains unchanged. It continue to see “plenty of runway” for MercadoLibre to sustain growth, and would be a buyer of the stock on the post-earnings selloff.