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.

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

A businesswoman using her mobile device to shop on a ecommerce platform.

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, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MELI and that has a 100x upside potential, check out our report about the cheapest AI stock.

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