Is MercadoLibre Stock Headed to $2,800? 1 Wall Street Analyst Thinks so

MercadoLibre (NASDAQ: MELI) stock has had a tough year. While the S&P 500 has gained 24%, MercadoLibre stock has lost 34.5%. But has the stock been oversold?Eight-five percent of covering analysts say to buy the stock right now, and the lowest price target from any Wall Street analyst suggests a 9% upside over the next year. One analyst, Hector Maya from Scotiabank, sees it heading to $2,800, a 72% increase from today's price. Is he right?MercadoLibre hasn't taken a break from high growth for years. It's an e-commerce and financial technology (fintech) company in Latin America, a region that's underpenetrated in both sectors, and it's benefiting as the countries it serves continue to embrace new technology.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool