MercadoLibre shares are trading lower after B of A Securities downgraded the stock from Buy to Neutral and lowered its price target from $1680 to $1350.
Portfolio Pulse from Benzinga Newsdesk
Bank of America Securities has downgraded MercadoLibre's stock from Buy to Neutral and reduced its price target from $1680 to $1350. This has led to a decrease in MercadoLibre's share price.
July 10, 2023 | 3:43 pm
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MercadoLibre's stock has been downgraded by B of A Securities, leading to a decrease in its share price.
The downgrade from Buy to Neutral by B of A Securities indicates a less optimistic outlook for MercadoLibre's stock. This, coupled with a lowered price target, has likely contributed to the decrease in MercadoLibre's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100