Susquehanna Upgrades MercadoLibre (MELI) to Positive; Risk/Reward More Compelling
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Susquehanna upgrades MercadoLibre (Nasdaq: MELI) to Positive. Price target $29.
Susquehanna analyst says, "We see the risk/reward more compelling at current valuations given greater comfort in our 2009 projections and long-term growth rates of 35-40% thanks to the recent stabilization/ improvement in key macro factors - consumer confidence, interest rates, currency rates. With a more neutral/benign macroeconomic backdrop, MercadoLibre should be better positioned to capitalize on strong secular growth in Internet and eCommerce in Latin America. MELI trades at a rich valuation, which is warranted by its high growth rates; however, the current valuation could continue to make shares sensitive to short-term variations in performance, particularly in hard-to-predict below-the-line items as we saw in 1Q09."
To see more analyst ratings on MELI Click Here.
MercadoLibre, Inc. hosts an online platform in Latin America, called MercadoLibre and located at www.mercadolibre.com.
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