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MercadoLibre (MELI) PT Raised to $2,025 at BTIG

August 2, 2024 5:00 AM EDT

BTIG analyst Marvin Fong raised the price target on MercadoLibre (NASDAQ: MELI) to $2,025.00 (from $1,885.00) while maintaining a Buy rating.

The analyst comments "MELI delivered the goods, literally and figuratively, in 2Q24. Riding the fastest growth in items sold (+29% y/y) in over 3 years, MELI generated GMV of $12.7B, easily topping the $11.8B consensus. GMV strength was broad-based with local FX growth of 36% in Brazil vs. our 24%, 30% in Mexico vs. our 23%, and 252% in... More