UPDATE: MercadoLibre Upgraded by Stifel, Sees Venezuela, Argentina Concerns Discounted

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