UPDATE: Morgan Stanley Downgrades Mercadolibre on Macro and Foreign Exchange Risks

In a report published Monday, Morgan Stanley analyst Michael Morin downgraded Mercadolibre (NASDAQ: MELI ) from a Equal-weight rating to an Underweight rating while establishing a price target of $75.00. In the report, Morgan Stanley says "MELI is an eCommerce leader in LatAm with an excellent track record of delivering growth,