2024-07-10 12:00:00 ET
Summary
- MELI remains the clear market leader in Latam, despite Shopee's growing ambitions in the region and the devaluation observed in Argentine peso.
- With double beat FQ1'24 performance and optimistic FQ2'24 commentaries, we believe that the raised consensus forward estimates through FY2026 are indeed warranted.
- Even when compared to its well-diversified e-commerce/fintech/logistics peers, it is apparent that MELI remains cheaply valued for its accelerated profitable growth prospects.
- We will also be highlighting a few metrics to look out for in the upcoming earnings call on August 02, 2024, underscoring the health of its businesses.
MELI's Investment Thesis Remains Robust - With Raised Double Digit Growth Prospects
We previously covered MercadoLibre, Inc. ( MELI ) in April 2024, discussing how our recommended entry point had materialized then, with the stock charting the predictable trading pattern since the June 2022 bottom as the management consistently delivered on its profitable growth initiatives....
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MercadoLibre May Be The Cheapest It Has Ever Been - Reiterate Buy