Jefferies Group upgraded shares of Melco Crown Entertainment Limited (NASDAQ:MPEL) from a hold rating to a buy rating in a report issued on Wednesday, TheFlyOnTheWall.com reports. They currently have $41.80 target price on the stock.
Jefferies Group has also taken action a number of other services stocks recently. The firm reiterated its in-line rating on shares of The Blackstone Group L.P.. They have a $31.00 price target on that stock, up previously from $30.00. Also, Jefferies Group lowered its price target on shares of Syngenta AG from $86.00 to $83.00. They have a hold rating on that stock. Finally, Jefferies Group initiated coverage on shares of CGI Group. They issued a hold rating on that stock and set a $37.00 price target.
Melco Crown Entertainment Limited (NASDAQ:MPEL) traded up 4.99% on Wednesday, hitting $36.505. The stock had a trading volume of 5,959,754 shares. Melco Crown Entertainment Limited has a 52-week low of $13.43 and a 52-week high of $35.03. The stock’s 50-day moving average is $31.37 and its 200-day moving average is $25.90. The company has a market cap of $20.073 billion and a price-to-earnings ratio of 42.93.
Melco Crown Entertainment Limited (NASDAQ:MPEL) last announced its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.28 by $0.05. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 38.0% on a year-over-year basis. On average, analysts predict that Melco Crown Entertainment Limited will post $1.17 earnings per share for the current fiscal year.
MPEL has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. raised their price target on shares of Melco Crown Entertainment Limited from $33.00 to $40.00 in a research note to investors on Friday, October 11th. They now have an overweight rating on the stock. Separately, analysts at Macquarie upgraded shares of Melco Crown Entertainment Limited from a neutral rating to an outperform rating in a research note to investors on Friday, October 11th. They now have a $41.50 price target on the stock, up previously from $26.00. Finally, analysts at Zacks upgraded shares of Melco Crown Entertainment Limited from a neutral rating to an outperform rating in a research note to investors on Tuesday, October 8th. They now have a $35.10 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $30.09.
Melco Crown Entertainment Limited (NASDAQ:MPEL) is a developer, owner and, through its subsidiary Melco Crown Gaming, operator of casino gaming and entertainment resort facilities focused on the Macau market.
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