Bank of America Securities Maintained a Buy rating on MercadoLibre (MELI), PT Remains Unchanged

MercadoLibre, Inc. (NASDAQ:MELI) is one of the 10 Best Non-Tech Stocks to Buy and Hold For 3 Years. On June 24, analyst Robert Ford of Bank of America Securities maintained a Buy rating on MercadoLibre, Inc. (NASDAQ:MELI) with a price target of $3,000.

Analyst Robert Ford likes the company’s strategic progress in advertising and fulfillment. He noted that MercadoLibre, Inc. (NASDAQ:MELI)’s integration with Google’s ad exchange expands its advertising reach, which should increase ad revenue and earnings.

Ford also highlighted the company’s growth in fulfillment centers and inventory centralization, particularly in the fast-moving consumer goods sector. This expansion could double MercadoLibre, Inc. (NASDAQ:MELI)’s addressable market and improve its competitive position in Latin America. Moreover, regardless of the regulatory pressure in Mexico, the analyst believes that the company will maintain its market position.

MercadoLibre, Inc. (NASDAQ:MELI) is a Latin American e-commerce platform that operates in around 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.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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