Citigroup Maintains Buy on MercadoLibre, Raises Price Target to $1900
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Joao Pedro Soares has reaffirmed a Buy rating on MercadoLibre (NASDAQ:MELI) and increased the price target from $1550 to $1900, indicating a positive outlook on the company's stock.
January 03, 2024 | 11:20 am
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Citigroup's analyst has maintained a Buy rating on MercadoLibre and raised the price target to $1900, suggesting a bullish stance on the stock.
The increase in price target by a reputable analyst typically signals a strong conviction in the company's future performance and growth potential. This can positively influence investor sentiment and potentially lead to a short-term increase in the stock price as the market reacts to the new price target.
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IMPORTANCE 85
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