Market Overview

UPDATE: Jefferies Reduces PT to $8 on hhgregg on Video and Notebook Slowdown

Related HGG
Weakness Seen in hhgregg (HGG) Estimates: Should You Stay Away? - Tale of the Tape
Market Wrap For April 16: Markets Hold On To Gains On Positive Yellen Comments And Economic Data
Related HGG
hhgregg Down on Prelim Numbers, Cuts FY14 View - Analyst Blog
Market Wrap For April 15: Who Doesn't Love A Turnaround?

Jefferies reiterated its Hold rating on hhgregg (NYSE: HGG) and reduced its price target from $11 to $8.

Jefferies commented, "Q1 sales and preliminary EPS expectations came in worse than our below Street estimates. The 5.1% decline in comp store sales was driven by weak video comp store sales plus softness in notebooks and personal electronics. Although shares look “cheap,” soft sales and operating margin contraction likely means they stay cheap. Risks remain ahead of Window 8 launch."

hhgregg closed at $11.54 on Tuesday.

Posted-In: JefferiesAnalyst Color Price Target Intraday Update Analyst Ratings

 

Most Popular

Related Articles (HGG)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free