Notable Upgrades: Melco Crown (MPEL), GameStop (GME), Western Digital (WDC), Horizon Pharma (HZNP), SunEdison (SUNE)

Analysts at BofA/Merrill (BAC) are out with a report this morning upgrading shares of Melco Crown Entertainment Limited (MPEL) with a ‘Neutral‘ from ‘Underperform‘ rating.

Melco Crown Entertainment Ltd. shares are currently priced at 26.39x this year’s forecasted earnings, compared to the industry’s 27.85x earnings multiple. Ticker has a forward P/E of 22.06 and t-12 price-to-sales ratio of 2.57. EPS for the same period is $0.78.

In the past 52 weeks, shares of casino gaming and entertainment resort facilities operator have traded between a low of $17.82 and a high of $34.32 and are now at $20.54. Shares are down 39.27% year-over-year and 15.18% year-to-date.

GameStop Corp. (GME) was reiterated an ‘Outperform’ by Oppenheimer analysts on Wednesday. The broker also raised its price target on the stock to $51 from $45.

On valuation measures, GameStop Corp. Cl A shares are currently priced at 12.85x this year’s forecasted earnings compared to the industry’s 19.43x earnings multiple. Ticker has a PEG and forward P/E ratio of 0.81 and 10.41, respectively. Price/Sales for the same period is 0.52 while EPS is $3.58. Currently there are 11 analysts that rate GME a ‘Buy‘, 7 rate it a ‘Hold‘. No analyst rates it a ‘Sell‘. GME has a median Wall Street price target of $47.00 with a high target of $55.00.

Western Digital Corporation (WDC) was reiterated as ‘Buy’ but with $105 from $125 price target on Wednesday by Stifel.

WDC is down $1.04 at $78.78 on normal volume. Midway through trading Wednesday, 910K shares of Western Digital Corp. have exchanged hands as compared to its average daily volume of 2.23 million shares. The stock has ranged in a price between $78.39 to $79.73 after having opened the day at $79.31 as compared to the previous trading day’s close of $79.82.

In the past 52 weeks, shares of Irvine, California-based company have traded between a low of $77.26 and a high of $114.69. Shares are down 15.01% year-over-year and 27.06% year-to-date.

Horizon Pharma plc (HZNP) rating of ‘Buy’ was reiterated today at Brean Capital with a price target increase of $40 from $33 (versus a $33.86 previous close).

HZNP shares recently gained $0.77 to $34.63. The stock is up more than 115% year-over-year and has gained roughly 163% year-to-date. Over the past year, shares of Dublin, Ireland-based specialty biopharmaceutical company have traded between a low of $7.85 and a high of $35.70.

Horizon Pharma plc has a current market cap of $5.35 billion.

SunEdison, Inc. (SUNE) had its ‘Outperform’ rating reiterated by Northland Capital today. The firm currently has a $39 price target on the stock, up from their previous price target of $38.

SunEdison shares recently lost $0.72 to $29.52. The stock is up 38.08% year-over-year and has gained roughly 55.00% year-to-date.

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