Financial analysts from Sanford C. Bernstein issued a report earlier this week on Melco Crown Entertainment’s (MCE) new stock rating, tagging the casino operator’s stocks with an outperform rating.
The rating is a recommendation that the stock is expected to do slightly better than the market return. An outperform rating can also be described as “moderate buy,” “accumulate” or “market outperform”.
Brean Capital initiated its own coverage on MCE shares last week, setting a buy rating and a $31 price target. Conversely, analysts at Morgan Stanley dropped MCE from overweight to actual weight earlier this week. Zacks shared those sentiments, downgrading MCE from neutral to underperforming while setting a $20.30 price target. Finally, Deutsche Bank lowered its rating from buy to sell and cut its target price to $18, a big drop from its previous target of $27.70.
All told, two research analysts have given MCE a sell rating, compared to seven who said buy and 11 who said hold. All together, the consensus rating of MCE stock is hold with an average price target of $32.40. Over the past year, MCE’s price had a low of $20.40 and a high of $41.55.