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Actionable news in MELI: MercadoLibre, Inc.,

MercadoLibre (MELI) Stock Soars, Upgraded at JPMorgan

NEW YORK (TheStreet) -- Shares of MercadoLibre (MELI) were jumping 7.53% to $186.75 on heavy trading volume late Friday afternoon as JPMorgan boosted its rating on the stock to "overweight" from "neutral," the Fly reports.

The firm also upped its price target to $200 from $133 on shares of the Buenos Aires-based online commerce platform.

JPMorgan said the Brazilian marketplace is thriving and MercadoLibre is gaining market share, the Fly noted.

The firm expects the share price to be driven by earnings growth despite its "rich"...


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