Post a Free Blog

Submit A Press Release

Sunday, March 3, 2024
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Truck Series (TRUCK)
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
-- Advertisement --spot_img
HomeBusinessMercadoLibre Upgraded to Buy After Strong Black Friday Performance

MercadoLibre Upgraded to Buy After Strong Black Friday Performance


Bank of America analysts upgraded the rating for Mercadolibre (NASDAQ:MELI) to Buy from Neutral, following impressive Black Friday performance. Along with this upgrade, the price target for Mercadolibre has been significantly increased by $650, bringing it to $2000 per share.
The analysts’ decision is rooted in Mercadolibre’s strong early Black Friday results, which showed considerable momentum. Preliminary figures from Nov 23 and 24 (up to 5 pm) indicate an 80% year-on-year increase in Brazilian Gross Merchandise Volume (GMV). This growth is particularly notable given that the overall Brazilian market saw a 15.1% year-on-year contraction, according to Bank of America.
Additionally, for November to date, MercadoLibre has reported a substantial 39% year-on-year growth in Brazilian GMV. In Mexico, during the Buen Fin promotional event, Mercadolibre showcased a 40% increase in GMV.
The sales of consumer electronics in Brazil during the Black Friday event surged by 140%, with significant demand in categories like cell phones, notebooks, and TVs.

Subscribe to get Latest News Updates

Latest News Articles

You may like more
more

Hewlett Packard Enterprise Reports Weak Guidance

Hewlett Packard Enterprise (NYSE:HPE) disclosed its first-quarter results and...

Flywire Cut to Equalweight at Morgan Stanley

Morgan Stanley analysts adjusted their rating on Flywire Corporation...

Autodesk Stock Gains 7 percent on Q4 Beat

Autodesk (NASDAQ:ADSK) shares soared over 7% in pre-market today...