New Street: MELI US (Buy, TP: $1,300, +45%) MercadoLibre - Investor Meeting notes, w/SVP Strategy, Andre Chaves and IR Director, Richard Cathcart
We hosted a call with MercadoLibre's SVP Strategy and IR Head over the holiday period (Dec 21st). Building on the positive press release put out by the company in late November (HERE) following Black Friday, we are looking forward to a strong E-Commerce quarter in Q4 despite a tough macro, with further share gains supported by easing competitive dynamics in Brazil. We talked through Digital Ad and Fulfilment as mid-term drivers. The pace of growth in Credit will slow in Brazil (not ready to accelerate yet) although Credit in other geos and Acquiring will provide support. We continue to view the stock positively into 2023.MercadoLibre is engages in an online commerce ecosystem. Co.'s platform is designed to provide users with a portfolio of services to facilitate commercial transactions. Co. integrated e-commerce services includes: the MercadoLibre Marketplace, which is an automated, topically-arranged and user-friendly online commerce service; MercadoLibre Classifieds Service, which users can also list and purchase motor vehicles, vessels, aircraft, real estate and services; MercadoPago payments solution, providing a mechanism that allows its users to send and receive payments online; and MercadoLibre advertising program, which enable businesses to promote their products and services on the Internet.
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