Benchmark initiated coverage on MercadoLibre (NASDAQ:MELI) with a Buy rating and a $2,500 price target, calling the Latin American e-commerce and fintech powerhouse a standout investment opportunity in the emerging markets space.
According to Benchmark, MercadoLibre’s dominant market position—controlling roughly 25% of Latin America’s online retail sector—sets the stage for long-term expansion. Despite recent growth, e-commerce penetration in the region remains in the low teens, far below global averages, leaving ample room for sustained double-digit growth through at least 2029.
In addition to its e-commerce strength, MercadoLibre is gaining momentum in digital financial services. Benchmark sees the company’s fintech arm as a key growth engine, with the ability to cross-sell and up-sell financial products to its vast user base. As cash usage declines and digital adoption accelerates, MELI is poised to capture an even larger share of this underbanked market.
With strong execution, regional expertise, and exposure to two massive secular trends—online retail and digital finance—Benchmark views MercadoLibre as one of the most compelling long-term growth stories among emerging market equities.
