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Enter Symbol:
 
Morgans Hotel Group Co. (MHGC) [hlAlert]

Rating:
Hold MHGC
up 55.59 %

Morgans Hotel Group Co. (MHGC) downgraded to Hold by Argus

Posted on: Friday,  Jun 12, 2009  8:25 AM ET by Argus

Argus rated Hold Morgans Hotel Group Co. (NASDAQ: MHGC) on 06/12/2009. Previously Argus rated Buy Morgans Hotel Group Co. (NASDAQ: MHGC) on
03/13/2009., when the stock price was $2.77. Since then, Morgans Hotel Group Co. has gained 55.60% as of 06/12/2009's recent price of $4.31.
If you would have followed the previous Argus's recommendation on MHGC, you would have gained 55.59% of your investment in 91 days.

Morgans Hotel Group Co. is an integrated hospitality company that operates, owns, acquires, develops and redevelops boutique hotels primarily in gateway cities and select resort markets in the United States, Europe and in select international locations. As of December 31, 2008, the Company owned or partially owned, and managed a portfolio of 12 luxury hotel properties in New York, Miami, Los Angeles, Scottsdale, San Francisco, London and Las Vegas, comprising approximately 3,700 rooms. In addition, it has two hotel developments, in Boston and New York, and a hotel expansion in Las Vegas representing an estimated 1,300 additional guest rooms. In June 2008, the Company entered in a joint venture agreement with Normandy Real Estate Partners and Ames Hotel Partners as part of the development of the Ames hotel in Boston, Massachusetts.

Argus Research is an independent research firm, and our business is producing, distributing and marketing high-quality investment and economic research. Our recommendations - BUY, HOLD and SELL - reflect the judgment of an analyst about a company's prospects as an investment in terms of value, expected growth and risks. Argus Research does not bring companies public, advise companies on mergers and acquisitions, broker trades, make markets in stocks or manage money. Our independence allows us to make critical judgments about companies that we might not be so free to make were we competing for a firm's underwriting business. Because we're not a broker/dealer, we don't have "inventory" of a stock that we have to move with a tainted recommendation. We have developed a six-point system for analyzing the stocks in our Universe of Coverage. We believe that this system
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
6/12/2009 8:25 AM Hold
None
4.31
as of 12/31/2009
1 Week   
1 Month   
3 Months   
1 YTD up  55.59 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
3/13/2009 8:25 AM Buy
None
2.77 6.00

(*) Stock Price at the time of the recommendation.
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