Bank of America Downgrades Melco Crown Entertainment To Underperform

Analysts at Bank of America downgraded Melco Crown Entertainment Limited MPEL from Neutral to Underperform. The price target for Melco Crown Entertainment is set to $21.40. Melco Crown Entertainment shares have dropped 43.86% over the past 52 weeks, while the S&P 500 index has surged 10.08% in the same period. Melco Crown shares fell 2.30% to $21.20 in pre-market trading.