MercadoLibre Inc. (NASDAQ:MELI) is highlighted as one of the best growth stocks to buy for the next 2 years. Citi recently lowered the company’s price target to $2,850 from $2,900 but maintained a Buy rating. MercadoLibre reported record-breaking growth in both its commerce and fintech segments in its Q2 2020 earnings report.

The company saw over 30% year-on-year revenue growth and achieved a record income from operations of $825 million. Lowering the free shipping threshold in Brazil attracted new users, boosted engagement, and accelerated Gross Merchandise Volume/GMV growth. MercadoLibre’s advertising business revenue grew by 38% year-on-year.

Mercado Pago, the company’s fintech arm, showed robust performance with 68 million monthly active users and a credit portfolio surpassing $9.3 billion, a 91% year-on-year increase. MercadoLibre operates online commerce platforms in Brazil, Mexico, Argentina, and globally through Mercado Libre Marketplace and Mercado Pago.

While MercadoLibre presents investment potential, some AI stocks may offer greater upside potential with less downside risk. An undervalued AI stock with potential from Trump-era tariffs and the onshoring trend is highlighted. For more insights on short-term AI stocks, refer to the provided link.

Read more at Yahoo Finance: Citi Lowers MercadoLibre (MELI) PT to $2,850, Maintains a Buy Rating