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MercadoLibre stock was upgraded to overweight from neutral by JPMorgan on Thursday, but the investment house also lowered its price target to 104 from 114 on the Latin American online marketplace’s decision to adopt new currency conversion rules in Venezuela. The step devalues MercadoLibre’s (MELI) Venezuelan results in U.S. dollars. But JPMorgan says that the company’s earnings will better reflect local value generation following the move. “We Scalper1 News
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