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.
Published first on TheFly
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