MercadoLibre (MELI) Stock Rises 4% After Q2 Earnings Beat and JPMorgan Upgrade
TLDR
- JPMorgan raised its MELI price target from $1,900 to $2,150, maintaining a “neutral” rating with ~13% implied upside from $1,897.51.
- MELI stock rose 4% to $1,897.51 following strong Q2 earnings that beat on both EPS and revenue.
- Q2 EPS came in at $9.19 vs. $8.65 expected; revenue hit $10.17 billion, up 49.8% year over year.
- A DCF analysis puts intrinsic value at ~$3,477 per share, suggesting the stock could be ~48% undervalued.
- The stock’s P/E of ~49.5x sits well above the industry average of ~20.2x, creating a split valuation picture.
MercadoLibre (MELI) stock jumped 4% to $1,897.51 on Tuesday after JPMorgan Chase raised its price target from $1,900 to $2,150, citing roughly 13.31% upside from current levels.
JPMorgan kept its “neutral” rating despite the bump. The move followed blowout Q2 earnings that sent the stock higher earlier this month.
MercadoLibre posted Q2 EPS of $9.19, beating the $8.65 consensus estimate by $0.54. Revenue came in at $10.17 billion, topping expectations of $9.79 billion and rising 49.8% compared to the same quarter last year.
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