MercadoLibre (MELI) is rallying as investors react to fresh analyst optimism, led by Jefferies upgrading the stock to Buy from Hold on April 7, 2026. The call framed the recent de-rating as an unusually attractive setup, arguing valuation has fallen to an all-time low EV/Sales multiple on 2026 estimates even as the business has scaled meaningfully. (investing.com)

Jefferies paired the upgrade with a $2,600 price target (down from $2,800), emphasizing that MELI is trading near levels last seen in December 2020 despite a step-change in fundamentals since then, including major growth in net revenue and EBIT. The message to investors: the stock’s valuation reset is out of sync with the company’s longer-term earnings power across commerce, payments, and logistics. (investing.com)

Near-term, traders will focus on whether additional firms follow with upgrades/raised targets and whether MELI can hold gains as the market shifts back toward higher-multiple growth names. The next scheduled company catalyst broadly expected by the market is the early-May 2026 earnings report window, which could validate (or challenge) the thesis that the selloff overshot underlying fundamentals. (benzinga.com)