Merrill Lynch analyst Robert Ford reiterated a Buy rating on Mercadolibre (MELI) yesterday and set a price target of $1550.00. The company’s shares closed last Friday at $1224.00, close to its 52-week high of $1248.22.
Ford has an average return of 49.1% when recommending Mercadolibre.
According to TipRanks.com, Ford is ranked #1308 out of 6876 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Mercadolibre with a $1129.22 average price target, a -7.9% downside from current levels. In a report issued on July 30, Credit Suisse also assigned a Buy rating to the stock with a $1255.00 price target.
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The company has a one-year high of $1248.22 and a one-year low of $422.22. Currently, Mercadolibre has an average volume of 501.6K.
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MercadoLibre, Inc. engages in the provision of online commerce platform with focus on e-commerce and its related services. It operates through the following geographical segments: Brazil, Argentina, Mexico, Venezuela, and Other Countries. The firm provides users a mechanism for buying, selling and paying as well as collecting, generating leads, and comparing lists through e-commerce transactions. The company was founded by Marcos Eduardo Galperin on October 15, 1999 and is headquartered in Buenos Aires, Argentina.