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MercadoLibre (MELI) is in a great position to cash in on the growing Internet use Brazil, JPMorgan analyst Andre Baggio said in a research report Monday. The leading seller of online products in Latin America will likely be the biggest beneficiary as Internet use and e-commerce grows in Brazil, says Baggio, who rates MercadoLibre stock overweight, or buy. MercadoLibre stock was up nearly 3% in midday trading in the stock market today at a nearly Scalper1 News
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