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

Melco Crown Entertainment Limited (NASDAQ:MPEL): The mean estimate for the short term price target for Melco Crown Entertainment Limited (NASDAQ:MPEL) stands at $19.55 according to 6 Analysts. The higher price target estimate for the stock has been calculated at $25 while the lower price target estimate is at $14.

Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Nomura, maintains their rating on the shares of Melco Crown Entertainment Limited (NASDAQ:MPEL). Nomura has a Reduce rating on the shares. As per the latest research report, the brokerage house lowers the price target to $14 per share from a prior target of $16. The rating by the firm was issued on May 5, 2016. Company shares have received an average consensus rating of Hold for the current week

Melco Crown Entertainment Limited (NASDAQ:MPEL) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.22 points or 1.6% at $13.51 with 1,850,849 shares getting traded. Post opening the session at $13.57, the shares hit an intraday low of $13.51 and an intraday high of $13.935 and the price was in this range throughout the day. The company has a market cap of $7,345 million and the number of outstanding shares have been calculated to be 543,641,510 shares. The 52-week high of Melco Crown Entertainment Limited (NASDAQ:MPEL) is $24 and the 52-week low is $12.05.

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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