Melco Crown Entertainment Limited (MPEL) : The consensus on Melco Crown Entertainment Limited (MPEL) based on 7 analyst recommendation on the company stock is 2.71, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 2 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 4 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.
Melco Crown Entertainment Limited (MPEL) : 4 investment research analysts covering Melco Crown Entertainment Limited (MPEL) have an average price target of $16.75 for the near short term. The highest target price given by the Brokerage Firm to the stock is $21 and the lowest target is $14 for the short term. Analysts expect the variance to be within $3.01 of the average price.
Also, Deutsche Bank upgrades their rating on the shares of Melco Crown Entertainment Limited (NASDAQ:MPEL). The current rating of the shares is Buy. Earlier, the shares were rated a Hold by the brokerage firm. The rating by the firm was issued on September 9, 2016.
Melco Crown Entertainment Limited (NASDAQ:MPEL): After opening at $16, the stock dipped to an intraday low of $15.84 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $16.21 and the buying power remained strong till the end. The stock closed at $16.04 for the day, a gain of 0.44% for the day session. The total traded volume was 3,004,541. The stocks close on the previous trading day was $15.97.
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.