Mizuho Securities Reduces the PT on ​MercadoLibre (MELI), Keeps a Buy

​MercadoLibre, Inc. (NASDAQ:MELI) is one of the Best Revenue Growth Stocks to Invest In. On October 21, Mizuho Securities reiterated a Buy rating on MercadoLibre, Inc. (NASDAQ:MELI) while reducing the price target from $3,000 to $2,800.

Earlier, on October 13, Analyst Andrew R. Ruben from Morgan Stanley maintained a Buy rating on MercadoLibre, Inc. (NASDAQ:MELI) with a price target of $2,850. ​The analyst noted the company’s strong growth potential in the Brazilian market. The company’s e-commerce business is showing signs of acceleration, said the analyst in his research note. This acceleration is driven by the company’s strategic initiatives, such as its expanded free shipping policy. He noted that this has led to an increase in unit growth. Ruben anticipates that this growth will lead to an increased GMV, which will enable the company to gain further market share in the region.

​MercadoLibre, Inc. (NASDAQ:MELI) is a leading fintech and e-commerce company based in Argentina. It primarily offers various services through its platforms, including Mercado Libre Marketplace, Mercado Pago, Mercado Envios, and more.

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Disclosure: None. This article is originally published at Insider Monkey.