MercadoLibre (MELI) faces limited direct impact from tariffs as it operates Latin American domestic consumption businesses, Morgan Stanley said in a note Wednesday.
The investment bank said it sees no export and "likely very limited" US import exposure, adding that the e-commerce company remains its "top pick" with an entry point that's "attractive" due to limited direct tariff risks.
Morgan Stanley said that for Q1, it raised its revenue forecast for the company by 2% due to foreign exchange and logistics effects. The firm also lowered its Q1 earnings before interest and taxes projection by 5% on higher credit provisions and other expense adjustments, making its estimate in-line with consensus.
Morgan Stanley cut its price target to $2,560 from $2,650 and maintained its overweight rating on the stock.
Price: 1924.71, Change: -55.95, Percent Change: -2.82
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