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MercadoLibre poised to gain share in e-commerce, fintech: UBS

Investing.com -- MercadoLibre Inc (NASDAQ:MELI) is well positioned to gain market share in e-commerce and fintech, according to UBS analysts, who raised their price target for the stock.

Shares were down 2.4% on Friday, but are up 41% so far this year.

UBS raised its price target to $1,600 from $1,500 and reiterated its Buy rating on the South American retailer. The stock currently trades around $1,209.

“We believe MELI is well positioned to continue gaining market share in both e-commerce and fintech while expanding margins,” the analysts wrote.

MercadoLibre’s Brazil e-commerce platform outperformed the industry in the first half of this year and “there is no reason to expect a change for 2Q23,” the analysts wrote. The company is undergoing another round of tweaks to its flat fees and freight costs for the commerce business in Brazil, starting July 3, the analysts said.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.