UPDATE: MercadoLibre Upgraded by Stifel, Sees Venezuela, Argentina Concerns Discounted
February 28, 2014 at 10:50 AM EST
Stifel Nicolaus upgraded MercadoLibre (NASDAQ: MELI ) from Sell to Buy and announced a $130 price target. Jordan Rohan, analyst at Stiefel, believes the “strategic value of the company is increasing” as management properly navigates issues in Venezuela and Argentina. Shares are up 18 percent to $111.50 after crushing