MercadoLibre price target raised to $2,300 from $1,950 at JPMorgan

JPMorgan analyst Marcelo Santos raised the firm’s price target on MercadoLibre (MELI) to $2,300 from $1,950 and keeps a Neutral rating on the shares. The company reported strong Q4 results, the analyst tells investors in a research note. However, given the strong stock move post results and a “rich valuation,” the firm keeps a Neutral rating on the shares.