Price Target Update on Melco Crown Entertainment Limited (NASDAQ:MPEL)

Melco Crown Entertainment Limited (NASDAQ:MPEL) has been rated by 5 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $21 and the lowest price target forecast is $14. The average forecast of all the analysts is $18.38 and the expected standard deviation is $3.39.

Other Equity analysts have also commented on the company shares. Equity Analysts at the Nomura maintains the rating on Melco Crown Entertainment Limited (NASDAQ:MPEL). The brokerage firm has issued a Reduce rating on the shares. The Analysts at the ratings agency lowers the price target from $16 per share to $14 per share. The rating by the firm was issued on May 5, 2016.

Melco Crown Entertainment Limited (NASDAQ:MPEL): On Thursdays trading session , Opening price of the stock was $14.1 with an intraday high of $14.1. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $13.79. However, the stock managed to close at $13.89, a loss of 0.07% for the day. On the previous day, the stock had closed at $13.9. The total traded volume of the day was 3,065,256 shares.

The company shares have dropped -27.49% from its 1 Year high price. On Aug 10, 2015, the shares registered one year high at $24.00 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $14.29 and the 200 Day Moving Average price is recorded at $15.20.

Melco Crown Entertainment Limited is a developer, owner and operator of casino gaming and entertainment resort facilities. The Company is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in two geographic areas: Macau and the Philippines. The Company has two casino based operations in Macau, namely, City of Dreams and Altira Macau, and non-casino based operations in Macau at its Mocha Clubs. The Company also has a casino based operation in the Philippines, City of Dreams Manila. The Company is developing the Studio City project, a cinematically-themed integrated entertainment, retail and gaming resort. The Companys other premises include Taipa Square Casino, a casino on Taipa Island, Macau operating within Hotel Taipa Square, including the fit-out and gaming related equipment.

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