JPMorgan Lowers MercadoLibre Rating and Price Target as Brazilian Competition and Investment Weigh on Margins
JPMorgan downgraded MercadoLibre from Overweight to Neutral and reduced its price target to $2,100 from $2,650, citing sustained competition in Brazil and management's willingness to accept lower near-term margins while investing for growth. The bank cut multi-year margin assumptions and now expects 2026 profit metrics to come in well below consens…