Barclays Sticks to Its Buy Rating for Mercadolibre (MELI)

In a report released on May 10, Trevor Young from Barclays maintained a Buy rating on Mercadolibre (MELI – Research Report), with a price target of $2,000.00. The company’s shares closed last Friday at $1,693.97.

Young covers the Consumer Cyclical sector, focusing on stocks such as Mercadolibre, Etsy, and TripAdvisor. According to TipRanks, Young has an average return of -1.1% and a 50.96% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Mercadolibre with a $1,864.58 average price target, a 10.07% upside from current levels. In a report released on May 8, J.P. Morgan also reiterated a Buy rating on the stock with a $2,150.00 price target.

The company has a one-year high of $1,825.00 and a one-year low of $1,063.02. Currently, Mercadolibre has an average volume of 430.1K.

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Mercadolibre (MELI) Company Description:

Founded in 1999, Argentina-based MercadoLibre, Inc. provides the largest online commerce and payments ecosystem in Latin America. The company provides users a mechanism for buying, selling and paying as well as collecting, generating leads, and comparing lists through e-commerce transactions. It has operations in 18 countries including, Argentina, Brazil, Mexico, Colombia, Chile, Venezuela and Peru.