Roth Capital started coverage on shares of Melco Crown Entertainment Limited (NASDAQ:MLCO) in a report issued on Wednesday. The brokerage set a “buy” rating and a $34.00 price target on the stock. Roth Capital’s price target suggests a potential upside of 34.49% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Macquarie lowered their price objective on shares of Melco Crown Entertainment Limited from $26.00 to $25.80 and set an “outperform” rating on the stock in a report on Friday, August 18th. Nomura upgraded shares of Melco Crown Entertainment Limited from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $20.00 to $29.00 in a report on Tuesday, September 19th. Zacks Investment Research upgraded shares of Melco Crown Entertainment Limited from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Wednesday, September 27th. Instinet restated a “neutral” rating on shares of Melco Crown Entertainment Limited in a report on Monday, July 17th. Finally, TheStreet downgraded shares of Melco Crown Entertainment Limited from a “b-” rating to a “c+” rating in a report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $23.77.

Melco Crown Entertainment Limited (NASDAQ:MLCO) opened at 25.28 on Wednesday. The company has a 50-day moving average of $23.59 and a 200-day moving average of $22.23. The company has a market cap of $12.37 billion, a P/E ratio of 48.99 and a beta of 1.84. Melco Crown Entertainment Limited has a 52-week low of $14.89 and a 52-week high of $25.32.

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A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in Melco Crown Entertainment Limited during the third quarter valued at about $820,000. State Board of Administration of Florida Retirement System bought a new position in Melco Crown Entertainment Limited during the third quarter valued at about $216,000. Andra AP fonden bought a new position in Melco Crown Entertainment Limited during the third quarter valued at about $3,292,000. Public Employees Retirement Association of Colorado bought a new position in Melco Crown Entertainment Limited during the third quarter valued at about $1,392,000. Finally, Canada Pension Plan Investment Board bought a new position in Melco Crown Entertainment Limited during the third quarter valued at about $112,000. Institutional investors own 39.33% of the company’s stock.

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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