Stock Track | Melco Crown Entertainment Soars 8.27% Pre-Market on Morgan Stanley Upgrade

Stock Track

03-03

Melco Crown Entertainment (MLCO) stock surged 8.27% in pre-market trading on Monday, following an upgrade by Morgan Stanley analysts.

Morgan Stanley upgraded Melco Resorts & Entertainment to "Overweight" from "Equal-weight", citing positive expectations for the casino operator's future performance. The analysts polled by FactSet gave Melco Resorts an average "Overweight" rating and a mean price target of $7.46.

The analysts' upgrade and bullish outlook on the stock contributed to the significant pre-market rise in Melco Crown Entertainment's share price, reflecting investor optimism about the company's prospects.

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