Melco Crown Entertainment Limited (MLCO) Price Target Raised to $33.00

Melco Crown Entertainment Limited (NASDAQ:MLCO) had its target price boosted by stock analysts at Nomura from $29.00 to $33.00 in a research note issued to investors on Friday. The brokerage presently has a “buy” rating on the stock. Nomura’s price target would suggest a potential upside of 27.36% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Macquarie reduced their price objective on Melco Crown Entertainment Limited from $26.00 to $25.80 and set an “outperform” rating on the stock in a research report on Friday, August 18th. Instinet reaffirmed a “neutral” rating on shares of Melco Crown Entertainment Limited in a report on Monday, July 17th. Zacks Investment Research raised Melco Crown Entertainment Limited from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Wednesday, September 27th. Roth Capital assumed coverage on Melco Crown Entertainment Limited in a report on Wednesday. They set a “buy” rating and a $34.00 target price on the stock. Finally, TheStreet downgraded Melco Crown Entertainment Limited from a “b-” rating to a “c+” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Melco Crown Entertainment Limited has a consensus rating of “Buy” and a consensus price target of $24.05.

Shares of Melco Crown Entertainment Limited (MLCO) traded down $0.61 during mid-day trading on Friday, reaching $25.91. The company had a trading volume of 3,135,062 shares, compared to its average volume of 3,227,305. The firm has a market cap of $12.57 billion, a P/E ratio of 30.41 and a beta of 1.92.

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Large investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new position in shares of Melco Crown Entertainment Limited in the 3rd quarter valued at about $112,000. LS Investment Advisors LLC acquired a new position in shares of Melco Crown Entertainment Limited in the 3rd quarter valued at about $129,000. Cavalier Investments LLC acquired a new position in shares of Melco Crown Entertainment Limited in the 3rd quarter valued at about $205,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Melco Crown Entertainment Limited in the 3rd quarter valued at about $216,000. Finally, River Road Asset Management LLC acquired a new position in shares of Melco Crown Entertainment Limited in the 3rd quarter valued at about $264,000. 39.33% of the stock is currently owned by institutional investors.

Melco Crown Entertainment Limited Company Profile

Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.

Analyst Recommendations for Melco Crown Entertainment Limited (NASDAQ:MLCO)

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