Stifel Nicolaus reissued their buy rating on shares of Mercadolibre (NASDAQ:MELI) in a research note published on Friday, MarketBeat Ratings reports. The brokerage currently has a $425.00 target price on the stock, up from their prior target price of $415.00.
“We appreciate where investment spend is focused as MercadoLibre is well positioned (given its leadership and the maturity of the platform) to extend share in the region as competition intensifies. Amazon will continue to invest in Latin America though we believe there is room for both in the region as eCommerce and digital payments are still early in their development. MercadoLibre is very well-managed with a strong strategic track record and yesterday’s report reinforces our positive view. We maintain our Buy rating and raise our Price Target to $425.”,” Stifel Nicolaus’ analyst wrote.
Several other research firms also recently commented on MELI. BidaskClub downgraded Mercadolibre from a strong-buy rating to a buy rating in a research note on Thursday, February 8th. Zacks Investment Research raised Mercadolibre from a hold rating to a buy rating and set a $433.00 price objective for the company in a research note on Wednesday, January 31st. Deutsche Bank set a $335.00 price objective on Mercadolibre and gave the company a hold rating in a research note on Thursday, January 4th. Piper Jaffray Companies reaffirmed an overweight rating and set a $415.00 price objective on shares of Mercadolibre in a research note on Thursday, February 15th. Finally, Barclays reduced their price objective on Mercadolibre from $275.00 to $250.00 and set an overweight rating for the company in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. Mercadolibre has a consensus rating of Buy and a consensus target price of $330.98.
Hedge funds have recently modified their holdings of the company. Artemis Investment Management LLP raised its stake in shares of Mercadolibre by 25.0% during the 3rd quarter. Artemis Investment Management LLP now owns 6,490 shares of the company’s stock worth $1,680,000 after buying an additional 1,298 shares in the last quarter. Carmignac Gestion raised its stake in shares of Mercadolibre by 6.3% during the 3rd quarter. Carmignac Gestion now owns 2,426,208 shares of the company’s stock worth $628,218,000 after buying an additional 144,451 shares in the last quarter. Capital Bank & Trust Co raised its stake in shares of Mercadolibre by 2.2% during the 3rd quarter. Capital Bank & Trust Co now owns 81,742 shares of the company’s stock worth $21,165,000 after buying an additional 1,785 shares in the last quarter. KAMES CAPITAL plc purchased a new position in shares of Mercadolibre during the 4th quarter worth approximately $49,860,000. Finally, USS Investment Management Ltd purchased a new position in shares of Mercadolibre during the 4th quarter worth approximately $26,276,000. 88.49% of the stock is owned by institutional investors and hedge funds.
ILLEGAL ACTIVITY NOTICE: “Mercadolibre (MELI) Given Buy Rating at Stifel Nicolaus” was originally reported by Ticker Report and is owned by of Ticker Report. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of international trademark and copyright legislation. The correct version of this piece of content can be accessed at https://www.tickerreport.com/banking-finance/3224724/mercadolibre-meli-given-buy-rating-at-stifel-nicolaus.html.
Mercadolibre Company Profile
MercadoLibre, Inc is an e-commerce company. The Company enables commerce through its marketplace platform in Latin America, which is designed to provide users with a portfolio of services to facilitate commercial transactions. Its geographic segments are Brazil, Argentina, Mexico Venezuela and Other Countries (which includes Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Panama, Peru, Portugal, Guatemala, Bolivia, Paraguay, Uruguay and the United States of America).
Receive News & Ratings for Mercadolibre Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mercadolibre and related companies with MarketBeat.com's FREE daily email newsletter.