In a recent update, Cantor Fitzgerald has adjusted its price target for MercadoLibre (MELI, Financial), one of Latin America's leading e-commerce platforms. The analyst, Deepak Mathivanan, has maintained an 'Overweight' rating on the stock, indicating potential for outperformance compared to industry peers.
The price target has been lowered from the previous $2,900.00 to a new target of $2,700.00 USD. This revision represents a 6.90% decrease in the expected value of the stock, reflecting adjustments in the market outlook or company-specific factors.
The 'Overweight' rating suggests continued confidence in MercadoLibre's (MELI, Financial) business model and growth prospects despite the reduction in the price target. The new target price continues to imply positive sentiment from the analyst regarding MercadoLibre's (MELI) performance in the upcoming periods.
Investors and stakeholders in MercadoLibre (MELI, Financial) should consider these updates as part of their strategic decisions while monitoring future developments from the company and the broader e-commerce market landscape.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 22 analysts, the average target price for MercadoLibre Inc (MELI, Financial) is $2,831.37 with a high estimate of $3,200.00 and a low estimate of $1,868.21. The average target implies an upside of 18.38% from the current price of $2,391.73. More detailed estimate data can be found on the MercadoLibre Inc (MELI) Forecast page.
Based on the consensus recommendation from 23 brokerage firms, MercadoLibre Inc's (MELI, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for MercadoLibre Inc (MELI, Financial) in one year is $3196.69, suggesting a upside of 33.66% from the current price of $2391.73. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the MercadoLibre Inc (MELI) Summary page.
