In a report published Monday, Morgan Stanley analyst Michel Morin downgraded the rating on Mercadolibre MELI from Equal-Weight to Underweight, but named a $75.00 price target.
In the report, Morgan Stanley noted, “Valuation does not adequately reflect growing macro risks in our view. Solid execution and secular tailwinds may allow MELI to grow into its valuation over time, but the risk-reward looks poor, despite the recent pullback. We trim estimates, lower our PT to $75, and downgrade to UW.”
Mercadolibre closed on Friday at $114.17.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in