UBS Maintains a 'Neutral' on hhgregg (HGG); Burden of Proof

August 3, 2012 12:49 PM EDT
Get Alerts HGG Hot Sheet
Price: $0.67 -2.9%

Rating Summary:
    2 Buy, 9 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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UBS maintains a 'Neutral' on hhgregg (NYSE: HGG) price target of $6.75 (from $9.50).

Analyst, Michael Lasser, said, "As HGG’s core TV category declines with no apparent catalyst on the horizon, the company has refocused its efforts in other areas such as new products like home fitness (treadmills, ellipticals) and home entertainment furniture (TV stands, sofas, recliners). These categories could help the productivity of HGG’s boxes, but they also expose the company to new risks such as more intense showrooming & heavier inventory investment. The burden of proof will remain on HGG to show that it can evolve its model to play to its strengths and minimize its weaknesses."

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 $6.17 yesterday.

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