MercadoLibre price target raised to $1,530 from $1,500 at Deutsche Bank

Deutsche Bank analyst Kunal Madhukar raised the firm's price target on MercadoLibre to $1,530 from $1,500 and keeps a Buy rating on the shares following the company's Q3 results. Growth accelerated for MercadoLibre across the board with the company benefiting from elevated e-commerce demand despite gradual reopening of physical retail, and accelerating demand for fintech services as the region starts to open up after the pandemic, Madhukar tells investors in a research note. The analyst remains bullish on the shares.