The stock of Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) hit a new 52-week high and has $26.15 target or 43.00% above today’s $18.29 share price. The 9 months bullish chart indicates low risk for the $10.06 billion company. The 1-year high was reported on Nov, 17 by Barchart.com. If the $26.15 price target is reached, the company will be worth $4.33 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 4.81% or $0.84 during the last trading session, hitting $18.29. About 5.44 million shares traded hands or 59.53% up from the average. Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) has risen 5.12% since April 15, 2016 and is uptrending. It has outperformed by 0.50% the S&P500.
Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) Ratings Coverage
Out of 10 analysts covering Melco Crown Entertainment (NASDAQ:MPEL), 4 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 40% are positive. Melco Crown Entertainment has been the topic of 17 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The stock of Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) earned “Neutral” rating by JP Morgan on Monday, October 5. The stock of Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) has “Outperform” rating given on Monday, October 12 by Credit Suisse. The rating was upgraded by Morgan Stanley to “Equal-Weight” on Thursday, October 29. As per Wednesday, December 9, the company rating was initiated by Gabelli. The stock of Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) has “Buy” rating given on Monday, October 12 by HSBC. The rating was upgraded by Morgan Stanley to “Overweight” on Monday, January 11. Buckingham Research initiated Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) on Thursday, August 11 with “Neutral” rating. The company was downgraded on Wednesday, April 20 by HSBC. Macquarie Research upgraded the stock to “Neutral” rating in Thursday, March 17 report. The stock has “Neutral” rating given by Goldman Sachs on Tuesday, August 18.
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.”
Another recent and important Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) news was published by Marketwatch.com which published an article titled: “Melco Crown Entertainment Ltd. ADR” on August 12, 2009.
MPEL Company Profile
Melco Crown Entertainment Limited, incorporated on December 17, 2004, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. The Firm 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. The Company’s business divisions are City of Dreams, Altira Macau, Studio City, Mocha Clubs, City of Dreams Manila, and Corporate and Others. The Firm has over three casino activities in Macau, namely, City of Dreams, Altira Macau and Studio City, and non-casino based activities in Macau at its Mocha Clubs. The Firm also has a casino operation in the Philippines, City of Dreams Manila. The Firm is developing the fifth hotel tower at City of Dreams in Cotai, Macau.
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