Jefferies Raises Est./Price Target On Melco Crown Enter. (MPEL), Keeps Hold
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Price: $18.97 +0.42%
Rating Summary:
15 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
15 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Jefferies raised estimates and its price target on Melco Crown Enter. (NASDAQ: MPEL) from $8.80 to $10.90 but maintained their Neutral rating.
The firm comments, "Although FY11 result beat JEF, real challenges should be in 2012. We believe new competition across the road from April could further eat into MPEL’s market share. The story of securing the loan for the MSC is no longer exciting as its overplayed. MPEL lacks of catalysts in 2012, in our view, especially when there is increasing pressure on the COD in delivering better results. Stock fairly valued, maintain Hold."
The firm raised FY12 EPS from $0.39 to $0.53 and FY13 from $0.46 to $0.55.
For an analyst ratings summary and ratings history on Melco Crown Enter. click here. For more ratings news on Melco Crown Enter. click here.
Shares of Melco Crown Enter. closed at $11.82 yesterday.
The firm comments, "Although FY11 result beat JEF, real challenges should be in 2012. We believe new competition across the road from April could further eat into MPEL’s market share. The story of securing the loan for the MSC is no longer exciting as its overplayed. MPEL lacks of catalysts in 2012, in our view, especially when there is increasing pressure on the COD in delivering better results. Stock fairly valued, maintain Hold."
The firm raised FY12 EPS from $0.39 to $0.53 and FY13 from $0.46 to $0.55.
For an analyst ratings summary and ratings history on Melco Crown Enter. click here. For more ratings news on Melco Crown Enter. click here.
Shares of Melco Crown Enter. closed at $11.82 yesterday.
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