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Scotiabank analyst Hector Maya initiated coverage on MercadoLibre with a Buy rating and a $3,500 price target. Maya calls the stock "LatAm Retail Top Pick" due to its unmatched market position, logistics, and technological capabilities. He believes the company is uniquely positioned to lead the shift from physical to online retail in Latin America.

Scotiabank analyst Hector Maya has initiated coverage on MercadoLibre (NASDAQ: MELI) with a Buy rating and a price target of $3,500.00. Maya, who is based in Latin America, has labeled the stock as "LatAm Retail Top Pick" due to its unmatched market position, logistics, and technological capabilities. He believes MercadoLibre is uniquely positioned to lead the shift from physical to online retail in Latin America.

Maya's positive outlook is based on MercadoLibre's recent financial performance. The company reported a 9.74 EPS for the last quarter, exceeding analysts' expectations, with revenues of $5.94 billion, representing a 37% increase year-over-year. Despite these strong results, other brokerages have adjusted their ratings, with Cantor Fitzgerald reducing its price target to $2,700.00 and Barclays dropping theirs to $3,000.00 [1].

The company operates two primary platforms: MercadoLibre Marketplace, an automated online commerce platform, and Mercado Pago, a financial technology solution platform. MercadoLibre's strong performance in the Latin American market, combined with its technological prowess, positions it as a leader in the region's e-commerce sector.

Maya's bullish view on MercadoLibre is supported by the company's robust financial metrics. The stock has a market cap of $120.08 billion, a PE ratio of 58.25, and a beta of 1.49. The company's quick ratio of 1.18 and current ratio of 1.20 indicate strong liquidity, while its debt-to-equity ratio of 0.57 suggests a manageable level of debt [1].

The expansion of MercadoLibre's market data access through TNS' connectivity to six Latin American exchanges is also a positive development. This move enhances the company's data infrastructure and supports its growth in the region [3].

Institutional investors and hedge funds have also shown confidence in MercadoLibre, with several funds increasing their stakes in the company during the second quarter [1].

While MercadoLibre's stock has seen a mixed response from analysts, the company's strong fundamentals and market position suggest it is well-positioned for growth in the Latin American e-commerce sector.

References:
[1] https://www.marketbeat.com/instant-alerts/mercadolibre-nasdaqmeli-earns-sector-outperform-rating-from-analysts-at-scotiabank-2025-07-28/
[2] https://www.marketscreener.com/news/amazon-com-inc-gets-a-buy-rating-from-jp-morgan-ce7c5fd2de89f327
[3] https://www.morningstar.com/news/business-wire/20250731935840/tns-expands-global-market-data-access-with-connectivity-to-six-latin-american-exchanges