Why Has Gabelli & Co Given Melco Crown Entertainment (NASDAQ:MPEL) a $21.0 Price Target
Analysts at Gabelli & Co have initiated coverage on shares of Melco Crown Entertainment (NASDAQ:MPEL) in a very recent research note revealed to investors and clients on Wednesday morning. The financial company set “Buy” rating on the $9.74 billion market cap company.
From a total of 22 analysts covering Melco Crown Entertainment (NASDAQ:MPEL) stock, 10 rate it a ”Buy”, 4 a “Sell”, and 8 a ”Hold”. This means that 45% of the ratings are positive. The highest target price is $31.07 while the lowest target price is $14. The mean of all analyst targets is $21.64 with a 45.66% above today’s ($16.25) stock price. Melco Crown Entertainment was the topic of 10 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. Morgan Stanley upgraded shares on October 29 to “Equal-Weight” rating. Brean Capital maintained shares with “Buy” rating and $26 target share price in a report from a July 28. Credit Suisse upgraded MPEL stock in a recent report from October 12 to “Outperform” rating. Finally, JP Morgan upgraded the stock to “Neutral” rating in a report issued on an October 5.
Approximately 266,986 shares of stock traded hands. Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) has declined 20.76% since May 6, 2015 and is downtrending. It has underperformed by 19.96% the S&P500.
Melco Crown Entertainment Limited is a developer, owner and operator of casino gaming and entertainment resort facilities. The company has a market cap of $9.74 billion. The Firm 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. It has 41.97 P/E ratio. The Firm has two casino based activities in Macau, namely, City of Dreams and Altira Macau, and non-casino based activities in Macau at its Mocha Clubs.
According to Zacks Investment Research, “Melco Crown Entertainment Limited is an owner and developer of casino gaming and entertainment resort facilities primarily in Macau. It owns and operates City of Dreams, Altira Macau and Mocha Clubs. The Company’s Development Project includes Macau Studio City Project. Melco Crown Entertainment Limited, formerly known as Melco PBL Entertainment (Macau) Limited, is headquartered in Macau.” Get a free copy of the Zacks research report on Melco Crown Entertainment Ltd (ADR) (MPEL).