Citigroup upgraded MercadoLibre (NASDAQ: MELI) from Neutral to Buy and set a price target of $2,050.00.
The target implies approximately 22.85% upside from the stock’s current trading price.
The upgrade follows a recent decline in MercadoLibre shares and may signal that Citigroup sees the pullback as a buying opportunity.
Analyst sentiment toward the Latin American e-commerce and fintech company is generally positive. Multiple research analysts have a consensus Moderate Buy rating.