UPDATE - UBS Initiates Coverage on hhgregg (HGG) with a Neutral; Growing Into Its Own
Tweet
Share
E-mailGet Alerts HGG Hot Sheet
Price: $0.23 --0%
Rating Summary:
1 Buy, 8 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Rating Summary:
1 Buy, 8 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 6 | New: 26
Join SI Premium – FREE
UPDATE - UBS initiates coverage on hhgregg (NYSE: HGG) with a Neutral rating. PT $15.
UBS analyst says, "HGG has a significant opportunity to expand, but its near-term outlook will likely be dictated by the demand for televisions and appliances. We are concerned that spending on these items will be crowded out by Apple products and other tablets, which are areas where HGG does not have a significant presence."
"Developing from the old-school to the new school - HGG is not sitting back and leaving its fate solely in the hands of various product cycles. It is attempting to leverage its heritage as a traditional appliance and TV retailer into a company that is positioned for today’s marketplace. It is restructuring its store operations, investing in its web presence, and slimming down the size of its store prototype. We will get a better sense if these actions are having a positive impact over the next few quarters."
UBS analyst says, "HGG has a significant opportunity to expand, but its near-term outlook will likely be dictated by the demand for televisions and appliances. We are concerned that spending on these items will be crowded out by Apple products and other tablets, which are areas where HGG does not have a significant presence."
"Developing from the old-school to the new school - HGG is not sitting back and leaving its fate solely in the hands of various product cycles. It is attempting to leverage its heritage as a traditional appliance and TV retailer into a company that is positioned for today’s marketplace. It is restructuring its store operations, investing in its web presence, and slimming down the size of its store prototype. We will get a better sense if these actions are having a positive impact over the next few quarters."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Morgan Stanley Starts Tier IV Inc (593A:JP) at Overweight
- TD Cowen Assumes Maze Therapeutics (MAZE) at Buy
- TD Cowen Assumes Immunocore Holdings (IMCR) at Buy
Create E-mail Alert Related Categories
New CoverageRelated Entities
UBSSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
