Scotiabank Initiated MercadoLibre, Inc (MELI) With a Buy Rating

MercadoLibre, Inc. (NASDAQ:MELI) is one of the Best All-Time High Stocks to Buy According to Analysts. On July 28, Scotiabank analyst Hector Maya initiated coverage on MercadoLibre, Inc. (NASDAQ:MELI) with a Buy rating and a $3,500 price target.

The analyst calls the stock “LatAm Retail Top Pick,” noting that the company has built a peerless moat with its more than 25 years of investment in Latin America. Analyst Maya noted that the company has built a network of unmatched logistics and technological capabilities that enable the company to enjoy a peerless market.

Moreover, the analyst also believes that MercadoLibre, Inc. (NASDAQ:MELI) is uniquely positioned to lead the ongoing shift from physical retail to online shopping in Latin America, which justifies the firm’s highest on-the-street target for the stock.

MercadoLibre, Inc. (NASDAQ:MELI) is a leading e-commerce platform in Latin America, operating in around 18 countries. The company provides an ecosystem of services, including Mercado Pago, Mercado Envios, Mercado Ads, and Mercado Shops.

While we acknowledge the potential of MELI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.