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Enter Symbol:
Rating: MHGC
Neutral $9

Morgans Hotel Group Co. (NASDAQ: MHGC) rated to Neutral with price target $9 by MKM Partners

Wednesday,  Jun 5, 2013  11:25 AM ET by Kristen Bailey

MKM Partners rated Morgans Hotel Group
Co. (NASDAQ: MHGC) to Neutral with price target $9 with today's price of $7.76.

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.

MKM Partners LLC is an institutional equity trading and research firm. MKM Partners has extensive experience in the agency execution of U.S. and international equity orders. We provide clients with timely and unbiased economic, technical, and fundamental research.

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