Is MercadoLibre Stock Headed to $2,800? 1 Wall Street Analyst Thinks so
The stock is down, but it might be oversold.
Is MercadoLibre Stock Headed to $2,800? 1 Wall Street Analyst Thinks so
Overview
MercadoLibre (NASDAQ: MELI) stock has had a tough year. While the S&P 500 has gained 24%, MercadoLibre stock has lost 34.5%. But has the stock been oversold?
Eight-five percent of covering analysts say to buy the stock right now, and the lowest price target from any Wall Street analyst suggests a 9% upside over the next year. One analyst, Hector Maya from Scotiabank, sees it heading to $2,800, a 72% increase from today's price. Is he right?
Details
MercadoLibre hasn't taken a break from high growth for years. It's an e-commerce and financial technology (fintech) company in Latin America, a region that's underpenetrated in both sectors, and it's benefiting as the countries it serves continue to embrace new technology.
Source
Originally published at www.fool.com.
