J.P. Morgan Lowers PT but Remains Neutral on HGG

According to a recent report, J.P. Morgan has lowered the price target of hhgregg

from $19.00 to $18.00 and reiterate a Neutral rating on the company. In the report, J.P. Morgan said, "We don't believe the stock will start to get the benefit of the doubt until the back half of this year when comparisons should drive sequential improvement in comps. Additionally, we remain concerned that some of the pressures facing the TV category are more structural in nature." HGG closed yesterday at $15.24.