5 Best Retail Stocks with Huge Upside Potential

2. MercadoLibre Inc. (NYSE:MELI)

MercadoLibre Inc. (NYSE:MELI) is one of the 10 best retail stocks with huge upside potential.

On February 25, Cantor Fitzgerald reduced the firm’s price target on MercadoLibre Inc. (NYSE:MELI) to $2,400 from $2,750. The firm maintained its Overweight rating on the stock, which still offers a revised upside potential of almost 36%.

Despite the cut, Cantor Fitzgerald highlighted that MercadoLibre Inc. (NYSE:MELI) beat fourth-quarter revenue and EBIT forecasts by 3% and 2%, respectively. This was primarily driven by 37% year-over-year GMV growth excluding FX and strong fintech performance. However, the growth numbers include 40% acquiring TPV growth and 90% credit portfolio expansion. Based on these factors, the firm continues to maintain its fundamental bullish stance on the company.

On February 12, J.P. Morgan upgraded MercadoLibre Inc. (NYSE:MELI) from a Neutral rating to Overweight. In the process, the firm also raised the price target from $2,650 to $2,800, which results in a revised upside of more than 58%.

MercadoLibre Inc. (NYSE:MELI) operates various e-commerce platforms with a global reach. These include Mercado Libre Marketplace, Mercado Pago, Mercado Fondo, Mercado Crédito, and Mercado Envios. Through these platforms, it covers various services and solutions such as online commerce, financial technology services, shipping, and investment solutions.