Wall Street Thinks This Stock Could Rise 30% This Year. Here's Why It's Poised for Even More.
MercadoLibre (NASDAQ: MELI) has been a fantastic stock to own this year, rising 37%. However, most of that rally occurred during January, as the stock is down 4% since Feb. 1. Wall Street analysts agree it has more room to run, as the average one-year price target is $1,600, implying a 37% upside.
But if you look at the company, it's clear that a 37% increase is just the beginning. MercadoLibre is poised for massive upside, and investors should strongly consider adding this stock to their portfolio before another run-up occurs. Read on to find out why.
In Latin America, one company reigns supreme in the e-commerce space. MercadoLibre has multiple products spanning an online store, shipping logistics, digital payments, and consumer credit. With its wide reach in the region, MercadoLibre is poised to benefit from a growing middle class.
Source Fool.com
Mercadolibre Inc Stock
The stock is an absolute favorite of our community with 30 Buy predictions and no Sell predictions.
With a target price of 1848 € there is a slightly positive potential of 3.27% for Mercadolibre Inc compared to the current price of 1789.4 €.
