Mercadolibre: Scotiabank initiates coverage with Sector Outperform rating and $3500 PT.

Mercadolibre: Scotiabank initiates coverage with Sector Outperform rating and $3500 PT.

Scotiabank analysts have initiated coverage of MercadoLibre (NASDAQ:MELI) with a "sector outperform" rating and a price target of $3,500.00. This suggests a potential upside of 47.77% from the company's current price [1]. Despite the positive outlook, other brokerages have adjusted their ratings. Cantor Fitzgerald reduced its price target to $2,700.00 and set an "overweight" rating, while Barclays dropped its target to $3,000.00 with the same rating [1].

MercadoLibre reported a 9.74 earnings per share (EPS) for the last quarter, exceeding analysts' expectations. The company's revenue for the quarter was $5.94 billion, representing a 37% increase year-over-year [1]. These strong financial results have drawn the attention of several analysts.

Scotiabank's price target of $3,500.00 would indicate a potential upside of 47.77% from the company's current price, while other brokerages have varying price targets. Cantor Fitzgerald has set a target of $2,700.00, and Barclays has set a target of $3,000.00. The average rating among analysts is "Moderate Buy" with a consensus price target of $2,690.29 [1].

MercadoLibre's stock performance has been robust, with shares trading up $5.94 during mid-day trading on Monday, reaching $2,368.50. The stock had a trading volume of 39,653 shares compared to its average volume of 391,297. The company's 50-day simple moving average is $2,475.90, and its 200-day simple moving average is $2,208.61 [1].

Institutional investors and hedge funds have also shown interest in MercadoLibre. Wilmington Savings Fund Society FSB grew its position by 20.2% during the second quarter, while RFG Advisory LLC grew its position by 3.3%. Other institutional investors and hedge funds have also increased their stakes in the company [1].

Overall, MercadoLibre's strong financial performance and positive analyst ratings suggest a promising outlook for the company. However, investors should consider the varying price targets and ratings from different brokerages before making investment decisions.

References:
[1] https://www.marketbeat.com/instant-alerts/mercadolibre-nasdaqmeli-earns-sector-outperform-rating-from-analysts-at-scotiabank-2025-07-28/