UPDATE: Morgan Stanley Downgrades Mercadolibre on Poor Risk-Reward

In a report published Monday, Morgan Stanley analyst Michel Morin downgraded the rating on Mercadolibre (NASDAQ: MELI ) from Equal-Weight to Underweight, but named a $75.00 price target. In the report, Morgan Stanley noted, “Valuation does not adequately reflect growing macro risks in our view. Solid execution and secular tailwinds