Pri Dagia

UBS Downgrades $MELI to Neutral from Buy, Lowers PT to $2,050 from $2,700 Analyst comments: "There is broad agreement that MELI is building a powerful infrastructure in LatAm, but since it announced the lower free-shipping threshold, questions about if, when, and how this investment cycle can be translated into profitability have arisen. We believe margins should remain under pressure and only start to recover from 2027-28 onward, based on our analysis of MELI’s past build-out phases and considering that the company remains in the early stages of this cycle, driven by the expansion in credit cards, CBT, and still-intense competition. We incorporate these trends into our numbers, reducing earnings estimates by approximately 9%, on average, over 2026-30E. Looking ahead, we see limited room for upward revisions given the competitive landscape and the ongoing investment cycle. Additionally, trading at 39x/27x P/E on 2026/27E, below historical levels, it seems fairly valued when adjusted for long-term growth versus peers, which, in our view, limits re-rating potential at this point." Analyst: Kaio Prato

Todavía me cuesta asimilar la oportunidad que dio Brasil hace un año atrás. Hoy qué país/sector puede estar dejando algo similar? Solo en el petróleo encuentro el mismo escepticismo por parte del mercado.

Startup idea: faucet turbine to generate electricity from running water

Everyone seems hyper focused on the AV angle with $UBER either the huge growth potential it could unlock or the risk/bear thesis around it. Whilst yes, I think AVs will be a great driver for Uber, I also think a lot of investors are completely sleeping on how much growth runway the business still has left with what their already doing today. During the Q3 CC, management mentioned that in Uber’s top 10 markets, only around 10% of the adult population uses $UBER monthly. That alone shows how much room remains to onboard new users. At the same time, the average MAPC uses $UBER approximately 6 times per month, across both platforms. So not only is the user base far from saturated, but existing users still have plenty of room to increase their engagement. Becoming a full stack delivery platform by moving into grocery and retail massively expands the TAM while offering speed that’s hard for competitors to match. Simply put they’re increasing penetration in existing markets while entering new ones, boosting ARPU by driving higher usage, expanding verticals across the platform and adding more paid members, which in turn increases frequency. The growth runway here is genuinely huge. As for AVs? That's a highly asymmetric opportunity layered on top, which of course is a very nice bonus.