UBS downgraded MercadoLibre to Neutral, cutting 12‑month price target to $2,050 from $2,700.
Shares fell over 2% on 29‑Apr‑2026 as analysts cite heavy logistics, fintech spending delaying profitability until 2027‑2028.
UBS cut 2026‑2030 earnings estimates ~9% and projects operating margin low of about 9% in 2026 before gradual recovery.
Despite margin pressure, UBS expects double‑digit revenue growth through decade, driven by GMV, user engagement and fintech expansion.