JPMorgan Raises MercadoLibre (MELI) Price Target, Keeps Neutral Rating

MercadoLibre, Inc. (NASDAQ:MELI) is one of the 11 Best Revenue Growth Stocks to Buy Now. On August 7, JPMorgan increased its price target for MercadoLibre, Inc. (NASDAQ:MELI) from $2,600 to $2,700 while keeping a Neutral rating.

This decision came after the company reported its results for the second quarter of 2025. JPMorgan modestly raised its estimates for the company’s gross merchandise volume (GMV) because of higher growth projections in Brazil and Mexico.

Despite the increased GMV forecast, JPMorgan lowered its estimates for MercadoLibre, Inc.’s (NASDAQ:MELI) profitability. The firm highlighted new shipping policies in Brazil and tougher competition in the market.

JPMorgan analyst Marcelo Santos said that the company is “entering a phase of higher competition following two years of relatively calm markets in Brazil.” This stronger competition could impact future margins.

MercadoLibre, Inc. (NASDAQ:MELI) is the leading e-commerce and financial technology company in Latin America. The company has a presence in 18 countries.

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.