Mercadolibre jumps after upbeat Q1 results

MercadoLibre

04/05/2023 14:03

** U.S.-listed shares of Brazilian e-commerce platform
Mercadolibre Inc  MELI.O  up 3.59% at $1326 premarket
    ** Stock on track to open at its highest in more than two
weeks, if gains hold
    ** MELI reports Q1 net revenue of $3.03 bln, up 58.4% YoY
and beats analysts' expectations of $2.86 bln - Refinitiv
    ** Posts Q1 EPS of $3.97 vs $1.3 a year earlier
    ** Credit Suisse and Barclays raise PT on stock, with CS's
PT of $1730 being one of the highest on Wall Street- Refinitiv
data
    ** 17 of 19 brokerages rate the stock "buy" or higher, rest
recommend "hold"; their median PT is $1500
    ** Up to last close, stock had risen 51.3% YTD

 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com;))