B of A Securities Maintains Buy Rating for MercadoLibre: Here's What You Need To Know

B of A Securities has decided to maintain its Buy rating of MercadoLibre MELI and raise its price target from $1400.00 to $1680.00.

Shares of MercadoLibre are trading up 3.53% over the last 24 hours, at $1300.34 per share.

A move to $1680.00 would account for a 29.2% increase from the current share price.

About MercadoLibre

MercadoLibre runs the largest e-commerce marketplace in Latin America, connecting a network of more than 148 million active users and 1 million active sellers as of the end of 2022 across an 18-country footprint. The company also operates a host of complementary businesses, with shipping solutions (Mercado Envios), a payment and financing operation (Mercado Pago and Mercado Credito), advertisements (Mercado Clics), classifieds, and a turnkey e-commerce solution (Mercado Shops) rounding out its arsenal. MercadoLibre generates revenue from final value fees, advertising royalties, payment processing, insertion fees, subscription fees, and interest income from consumer and small-business lending.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.