Melco Crown Entertainment Limited (MPEL) : Zacks Investment Research ranks Melco Crown Entertainment Limited (MPEL) as 3, which is a Hold recommendation. 2 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 5 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 8 research analysts is 2.75, which indicates as a Hold.
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.
Company shares have received an average consensus rating of Hold for the current week
Melco Crown Entertainment Limited (NASDAQ:MPEL): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $13.40 and $13.31 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $13.67. The buying momentum continued till the end and the stock did not give up its gains. It closed at $13.67, notching a gain of 1.18% for the day. The total traded volume was 939,664 . The stock had closed at $13.51 on the previous day.
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.