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Melco Crown Entertainment Ltd (NASDAQ:MPEL)‘s stock had its “buy” rating reiterated by investment analysts at Sterne Agee in a note issued to investors on Friday. They currently have a $54.00 price target on the stock, down from their previous price target of $57.00. Sterne Agee’s price target would indicate a potential upside of 81.33% from the stock’s previous close.

Melco Crown Entertainment Ltd (NASDAQ:MPEL) traded down 2.15% on Friday, hitting $29.14. 4,154,145 shares of the company’s stock traded hands. Melco Crown Entertainment Ltd has a one year low of $26.30 and a one year high of $45.70. The stock has a 50-day moving average of $32.81 and a 200-day moving average of $36.26. The company has a market cap of $16.051 billion and a P/E ratio of 21.03.

Melco Crown Entertainment Ltd (NASDAQ:MPEL) last announced its earnings results on Thursday, August 7th. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.36 by $0.06. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the company posted $0.33 earnings per share. Melco Crown Entertainment Ltd’s revenue was down 7.4% compared to the same quarter last year. On average, analysts predict that Melco Crown Entertainment Ltd will post $1.56 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on MPEL. Analysts at Zacks downgraded shares of Melco Crown Entertainment Ltd from a “neutral” rating to an “underperform” rating in a research note on Tuesday. They now have a $27.60 price target on the stock. Separately, analysts at JPMorgan Chase & Co. cut their price target on shares of Melco Crown Entertainment Ltd from $47.00 to $46.00 in a research note on Wednesday, July 9th. Finally, analysts at Credit Suisse initiated coverage on shares of Melco Crown Entertainment Ltd in a research note on Tuesday, July 1st. They set an “outperform” rating and a $44.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $42.73.

Melco Crown Entertainment Limited is a holding company. The Company, along with its subsidiaries, is engaged in the gaming and hospitality business.

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