MercadoLibre (MELI) stock, which has been on a downtrend, jumped Friday after Latin America’s No. 1 e-commerce company late Thursday posted Q4 earnings that shattered Wall Street views. At least one analyst says foreign currency remains an issue for Argentina-based MercadoLibre. But MercadoLibre stock was up more than 13% in afternoon trading in the stock market today, near 107. Before Friday, MercadoLibre stock had been down 36% since late
The sell-off in emerging market currencies on Friday drove down shares of Vodafone (VOD), Telefonica (TEF), America Movil (AMX), VimpelCom (VIP), satellite TV broadcaster DirecTV Group (DTV) and Latin American e-commerce firm MercadoLibre (MELI), as well as local telecom companies. DirecTV stock was down more than 2% in morning trading in the stock market today. DirecTV has a big Latin American business. U.S. shares of U.K.-based Vodafone also
MercadoLibre (MELI) continues to see fast growth in its key market of Brazil, says JPMorgan analyst Andre Baggio, prompting him to raise his price target on MercadoLibre stock to 112 from 109. Baggio maintained a neutral rating on the stock, however, in a research report late Monday. MercadoLibre stock was down more than 1% in afternoon trading on the stock market today, near 109.50. The Argentina-based company’s Q3 EPS and sales missed analyst