Deutsche Bank Starts MercadoLibre (MELI) at Hold

September 21, 2012 8:16 AM EDT
Get Alerts MELI Hot Sheet
Price: $176.17 --0%

Rating Summary:
    8 Buy, 8 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 1
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Deutsche Bank initiated coverage on MercadoLibre (NASDAQ: MELI) with a Hold rating and a price target of $93.00.

MercadoLibre is the leading e-commerce marketplace in Latin America.

“Long term the company should benefit from the share shift from offline retail to online across its many low-penetration markets,” said analyst.

“Following the platform overhaul in 2011, MercadoLibre is enhancing the experience for both consumers and merchants, which should drive growth for several quarters. However, we believe MELI shares are fairly valued at current levels,” noted the report.

For an analyst ratings summary and ratings history on MercadoLibre click here. For more ratings news on MercadoLibre click here.

Shares of MercadoLibre closed at $86.02 yesterday.

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