Melco Crown Entertainment Limited (MPEL) : Analyst Rating Update

Melco Crown Entertainment Limited (MPEL) : 2 brokerage houses believe that Melco Crown Entertainment Limited (MPEL) is a Strong Buy at current levels. 5 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Melco Crown Entertainment Limited (MPEL). Zacks Investment Research suggests a Hold with a rank of 3. 1 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 8 Wall Street Analysts endorse the stock as a Hold with a rating of 2.75.

Melco Crown Entertainment Limited (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.

Melco Crown Entertainment Limited (NASDAQ:MPEL): The stock opened at $12.16 on Wednesday but the bulls could not build on the opening and the stock topped out at $12.28 for the day. The stock traded down to $11.98 during the day, due to lack of any buying support eventually closed down at $12.19 with a loss of -0.89% for the day. The stock had closed at $12.30 on the previous day. The total traded volume was 2,853,987 shares.

Also, Nomura maintains its rating on Melco Crown Entertainment Limited (NASDAQ:MPEL). The global brokerage major lowers the current price target from $16 per share to $14 per share. Analysts at the Nomura have a current rating of Reduce on the shares. The rating by the firm was issued on May 5, 2016. The company shares have dropped -38.96% 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 Jun 27, 2016. The 50-Day Moving Average price is $13.79 and the 200 Day Moving Average price is recorded at $15.01.

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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