Manager Mick McCarthy's side are currently back in the bottom three and face a testing home clash with Tottenham on Sunday.
But Morgan insists he would not have gone ahead with the £40 million redevelopment of Molineux had he felt Wolves would be constantly battling for top flight survival.
"It (becoming established) is more than a dream, it's a realistic target," he said. "That's what we are aiming for and that's why we are doing what we are doing.
"That is why we are redeveloping the ground. If I didn't think Wolves were going to be a permanent member of the Premier League, then we shouldn't be doing it.
"If I didn't think we were going to improve from being involved in a dogfight to escape relegation, then we shouldn't be doing it."
Source: PA
Source: PA