MercadoLibre (MELI) PT Raised to $2,900 at Cantor Fitzgerald

Cantor Fitzgerald analyst Deepak Mathivanan raised the price target on MercadoLibre (NASDAQ: MELI) to $2,900.00 (from $2,400.00) while maintaining a Overweight rating.

The analyst commented, "MELI reported 1Q results with revenues and EBIT above the Street by 8% and 20%, respectively (Visible Alpha). GMV growth remained strong at +40% y/y ex-FX, driven by BRL (+30% ex-FX) and ARG (+126% ex-FX). Within Fintech, acquiring business delivered another strong quarter with +32% y/y TPV growth (+59% ex-FX) on solid performance from several product categories. 1Q EBIT margin expanded 70bps y/y despite headwinds from incremental investments and growing credit card mix. Overall, 1Q was a solid quarter for MELI with healthy top-line trends and nice margin expansion. We remain bullish on the fundamental outlook of MELI for 2025 and reiterate our Overweight rating post 1Q results. We have revised our FY26E EBIT higher by 3% and our new 12-month PT is $2,900 (vs. $2,400 previously)."

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