Here’s Why MercadoLibre Stock Is Rising

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Shares of MercadoLibre (NASDAQ: MELI) rose on Thursday, following bullish analyst remarks. As of 1:50 p.m. EDT, the online marketplace operator’s stock price was up more than 2% after rising as much as 6.7% earlier in the day. 

Wolfe Research analyst Deepak Mathivanan issued an outperform buy rating on MercadoLibre’s stock. He sees the Argentine-based e-commerce leader’s share price reaching $1,800, representing potential gains to investors of roughly 20% from the stock’s current price near $1,500.

MercadoLibre’s shareholders could enjoy handsome returns, according to analysts at Wolfe Research. Image source: Getty Images.

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