MercadoLibre price target raised to $1,400 from $1,245 at BTIG

BTIG analyst Marvin Fong raised the firm’s price target on MercadoLibre to $1,400 from $1,245 and keeps a Buy rating on the shares. The company’s Q4 results were strong with better-than-expected margins and local currency growth, the analyst tells investors in a research note. BTIG further states that MercadoLibre’s recent initiatives to improve credit quality are working, as seen by its under-90 day past due ratio falling from 13% in Q3 to 10% in Q4.