Will MercadoLibre Stock Hit $1,000?

Even after climbing more than 40% so far this year, MercadoLibre's (NASDAQ: MELI) shares will continue to reward investors in the months ahead.

So says J.P. Morgan analyst Marcelo Santos. On Wednesday, Santos reiterated an "overweight" rating on MercadoLibre's stock and raised his target price from $800 to $1,000. That implies potential upside of 22% for investors, based upon MercadoLibre's current share price of $820.

MercadoLibre's stock could deliver even more gains to shareholders in the coming year, according to J.P. Morgan analyst Marcelo Santos. Image source: Getty Images.

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Source Fool.com