UPDATE: J.P. Morgan Raises PT on Mercadolibre on Positive Cost Trends

In a report published Monday, J.P. Morgan reiterated its Overweight rating on Mercadolibre (NASDAQ: MELI ), and raised its price target from $93.00 to $101.00. J.P. Morgan noted, “We maintain MELI as an Overweight, increasing our price target to $101 for Dec-13, from $93 previously. We like MELI, as: (1)