Macau GGR Trends Solid, Says Goldman (LVS) (MGM) (WYNN) (MPEL)
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Melco Crown Entertainment (MPEL) is Underappreciated and Undervalued, Sterne Agee Says
April 8, 2014 8:54 AM EDTSterne Agee analyst David Bain reiterated a Buy rating and $57 price target on Melco Crown Enter. (NASDAQ: MPEL), calling shares underappreciated and undervalued.
Bain comments, "We raise our estimates and reiterate our Buy. Projected EBITDA growth rates for CY15/CY16 are +27%/+43%, the highest of US-listed peers, yet MPELs CY15E/CY16E EV/EBITDA, after adjusting for project ownership, is 11.1x/7.9x, the lowest... More
