MercadoLibre (MELI) Stock Trades Up, Here Is Why

Shares of latin American e-commerce and fintech company MercadoLibre (NASDAQ:MELI) jumped 5% in the morning session after JP Morgan raised its price target on the stock to $2,150 from $1,900. While the firm maintained a Neutral rating, the upward revision shifted investor focus back to the company's accelerating top-line growth after margin concerns had weighed on the stock following its recent earnings report. When MercadoLibre released its second-quarter results a few days prior, the stock fel