Wedbush Maintains Outperform on MercadoLibre, Raises Price Target to $1800
Portfolio Pulse from Benzinga Newsdesk
Wedbush analyst Scott Devitt has maintained an Outperform rating on MercadoLibre (NASDAQ:MELI) and increased the price target from $1700 to $1800.
December 27, 2023 | 1:48 pm
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POSITIVE IMPACT
Wedbush analyst Scott Devitt reaffirms an Outperform rating on MercadoLibre and raises the price target to $1800, indicating a positive outlook on the stock.
The increase in price target by a reputable analyst like Scott Devitt suggests a strong conviction in MercadoLibre's future performance. This typically instills confidence in investors and can lead to a short-term increase in the stock price as market participants adjust their valuations.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100