Barclays Reiterates an 'Underweight' on hhgregg (HGG); Little Confidence in Revised Estimates

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Barclays reiterates an 'Underweight' on hhgregg (NYSE: HGG) price target of $8.00.

Analyst, Alan M. Rifkin, said that in addition to HGG pre-announcing a weak Q1, he finds the reduction in the company's full year outlook alarming. The guidance reduction is significant. Rifkin cuts FY12 EPS estimate from $1.00 to $0.80 and FY13 from $1.00 to $0.80, but has little confidence in these numbers given volatility of business/trends.

For an analyst ratings summary and ratings history on hhgregg click here. For more ratings news on hhgregg click here.

Shares of hhgregg closed at $11.54 yesterday, with a 52 week range of $8.88-$16.65.

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