
MercadoLibre (NASDAQ:MELI) Downgraded to "Hold" Rating by Daiwa Securities Group

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Daiwa Securities Group downgraded MercadoLibre (NASDAQ:MELI) from a "buy" to a "hold" rating, setting a target price of $1,800.00, indicating a potential upside of 10.40%. Other analysts have varied opinions, with Jefferies upgrading to "buy" but lowering the target to $2,600.00, while Zacks downgraded to "strong sell". The stock traded down to $1,630.47, with a market cap of $82.66 billion. Despite missing earnings estimates, revenue grew 49% year-over-year. Institutional investors hold 87.62% of the stock.
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