MercadoLibre, Inc. (NASDAQ:MELI) ranks among the best growth stocks to buy for the next 10 years. Citing MercadoLibre, Inc. (NASDAQ:MELI)’s strong position in Latin American fintech and e-commerce, Scotiabank began covering the company on July 28 with a Sector Outperform rating and a Street-high price target of $3,500.
With MercadoLibre, Inc. in a unique position to profit from the region’s continuous trends toward online retail and digital banking, Scotiabank anticipates an upside of almost 46% from current levels. It referred to the company’s dual payments and commerce ecosystem as a “peerless moat,” with over 64 million monthly financial customers and over 100 million marketplace users.
With free cash flow expected to increase at a compound annual growth rate of 23% through 2028, Scotiabank believes MercadoLibre, Inc. is outperforming its regional competitors.
MercadoLibre, Inc., based in Buenos Aires, Argentina, is a prominent Latin American e-commerce technology company. Established in 1999, the main platforms of the company, MercadoLibre.com and MercadoPago.com, provide a variety of solutions for individuals and businesses engaged in online buying, selling, advertising, and payment operations.
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