Deutsche Bank Upgrades Melco Crown (MPEL) to Buy On Market Share Confusion
More News related to MPEL
- Melco Crown Entertainment (MPEL) Posts Q3 Loss of $0.08, Beats by 1c
- Melco Crown Entertainment Announces Third Quarter Earnings
- Melco Crown Entertainment Announces Earnings Release Date
- Trading Outlook for Melco Crown Entertainment Limited Issued by StockPreacher.com
- Melco Crown Entertainment Announces Appointment of Todd Nisbet to Its Board of Directors
More News related to Upgrades
- Brush Engineered Materials (BW) Spikes Higher Amid Sidoti Upgrade
- Bernstein Upgrades Shire (SHPGY) to Outperform; Lifts Target to $65
- Deere (DE) Shares Outperforming as Morgan Stanley Upgrades to Overweight
- AnnTaylor (ANN) Shares Rallying as Analyst Sees Attractive Entry Point, Upgrades to Overweight
- Rodman & Renshaw Upgrades Origin Agritech (SEED) to Market Outperform
.jpg)
Deutsche Bank upgrades Melco Crown Entertainment Ltd. (Nasdaq: MPEL) from Hold to Buy with a $6.50 price target, saying confusion creates opportunities.
The firm said, " Melco has fallen almost 30% over the past month as the market is disappointed by the early market share at its new casino, City of Dreams (COD), which opened on 1 June. However, headline market share does not reflect the fundamentals in Macau as it is impacted by the volatility of VIP hold, which depends on luck. Adjusting for this, Melco's associate Melco Crown captured 16-18% market share in June 1-14, in line with expectations. Market confusion often creates the best buying opportunities."
Deutsche Bank also said the net catalyst is Chief Executive's election in July.
Real-Time Market Moving News Two-Weeks FREE http://www.streetinsider.com/premium_content.php
Related Categories
Trader TalkUpgrades
Stocks Mentioned
-0.13Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
