Morgan Stanley analyst Andrew Ruben raised the firm’s price target on MercadoLibre (MELI) to $2,650 from $2,400 and keeps an Overweight rating on the shares. MercadoLibre published its annual 10-K filing for 2024 on Friday afternoon and the firm’s review of the filing points to a strategic focus of investing behind AI, talent, and fintech principality, the analyst tells investors. The firm, which raised its FY25 EBIT forecast 9%, identifies MercadoLibre as a “Top Pick,” citing its “profitable growth momentum.”
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