5 Service Stocks for 2012
4. MercadoLibre (MELI) is Latin America's leading e-commerce technology company. Through its primary platforms -- MercadoLibre.com and MercadoPago.com -- it provides solutions to individuals and companies buying, selling, advertising and paying for goods online.
For the 2011 third quarter, the company reported revenue of $81.6 million, up 45.9% from the same period in fiscal 2010. Income from operations grew 55.2% to $30.0 million, whereas gross profit was up 38.4% to $61.6 million.
Gross merchandise volume grew 51.8% year-over-year to $1.348 billion, while total payment volume rose 94.1% year-over-year to $368.5 million.Credit Suisse (CS) has initiated coverage on the stock with a neutral rating. Of the 10 analysts covering the stock, 7 recommend a buy. The stock's average 12-month price target is $99.38, about 23.8% higher than the current price, according to a Bloomberg consensus.
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