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

MercadoLibre stock has declined 34.5% this year despite strong fundamentals. Wall Street analysts are largely bullish, with 85% recommending a buy. One analyst from Scotiabank projects a $2,800 price target (72% upside), though this was downgraded from $3,500. The company continues strong growth in e-commerce and fintech across Latin America, with significant long-term opportunities given low market penetration.