MercadoLibre (MELI) PT Lowered to $2,400 at Cantor Fitzgerald: Outlook Unchanged

Cantor Fitzgerald analyst Deepak Mathivanan lowered the price target on MercadoLibre (NASDAQ: MELI) to $2,400.00 (from $2,750.00) while maintaining a Overweight rating.

The analyst commented, "MELI reported 4Q results with revenue and EBIT above Street estimates by 3% and 2%, respectively (Visible Alpha), despite heightened buyside fears into the print. Total GMV growth of 37% y/y ex-FX came in 5-pts above Street, driven by further acceleration in Brazil GMV. On the Fintech side, acquiring TPV grew +40% y/y ex-FX while credit portfolio growth accelerated nicely to +90% y/y. On the profitability front, 4Q EBIT margin of 10.1% was weighed by ~5-6pts of investments in strategic initiatives (marketing, credit cards, logistics, etc.). Looking into 2026, MELI has several tailwinds on both the eCommerce and fintech businesses that should continue to deliver strong top-line growth. However, strategic growth investments could keep margins volatile in the near term. Overall, our bullish stance on MELI's fundamental outlook remains unchanged post 4Q results."

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