UPDATE: Morgan Stanley Reiterates Overweight Rating, Raises PT on China Lodging Group

In a report published Monday, Morgan Stanley reiterated its Overweight rating on China Lodging Group Ltd. HTHT, and raised its price target from $15.00 to $18.70. Morgan Stanley noted, “Our recent visit to China Lodging's mid-scale hotels made us believe that a market leading mid-scale brand is in the making. We remain OW on the stock and raise our price target from US$15 to US$18.7 by rolling forward 12 months to end-2013.” China Lodging Group Ltd. closed on Friday at $15.86.