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Rating: MHGC
Buy $10

Jefferies rated Morgans Hotel Group Co. (NASDAQ: MHGC) to Buy with price target $10

Friday,  Oct 22, 2010  8:25 AM ET by Kristen Bailey

Jefferies rated Morgans Hotel
Group Co. (NASDAQ: MHGC) to Buy with price target $10.

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.

Jefferiess' research efforts cover U.S. & International equity, high yield, convertibles, derivatives and option strategies, investment grade fixed income, post-reorganization securities, as well as special situations and quantitative research. Our team of more than 150 research professionals covers nearly 1,200 companies in more than 40 industries worldwide. Our analysts focus on identifying emerging industry themes while providing in-depth, thought provoking, objective research.



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