JPMorgan Upgrades MercadoLibre (MELI) to Overweight Amid Strong Brazil Growth

MercadoLibre, Inc. (NASDAQ:MELI) ranks among billionaire Stanley Druckenmiller’s 10 best stock picks. JPMorgan raised MercadoLibre, Inc. (NASDAQ:MELI) from Neutral to Overweight on February 12, given indications of softening competition, lower risk earnings projections, and ongoing strong growth in Brazil. The firm claimed that since Shopee has increased its take rates to levels comparable to MercadoLibre’s on higher-end items, the pressures from competition began to diminish. JPMorgan stated that it no ...