Melco PBL Entertainment Macau (MPEL) NewsBite - MPEL Upgraded By Morgan Stanley
Posted: Thursday, September 02, 2010 1:30 PM EDT
By: Market Intelligence Center Staff
Melco PBL Entertainment Macau (MPEL) was upgraded today by analysts at Morgan Stanley and the stock is now at $4.27, up $0.36 (9.21%) on volume of 6,737,218 shares traded. The stock was lifted to Overweight from Equal Weight. Over the last 52 weeks the stock has ranged from a low of $3.26 to a high of $8.45. Melco PBL Entertainment Macau has been showing support around $3.80 and resistance in the $4.06 range. Technical indicators for the stock are neutral and S&P gives MPEL a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on MPEL the stock seems like it could be a candidate for a January covered call above the 4 range. [ABR-Seven Summits Strategic Investments NewsBite]
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