Piper Jaffray Maintains Neutral Rating And $20 PT On HGG

Yesterday afternoon, HHGregg, Inc. HGG management presented at ICR's Investor Conference, Piper Jaffray reports. “Although not many new updates were provided from last week's sell-side meeting at CES, at ICR we were able to learn more about the timing of the planned store rollouts for 2011,” Piper Jaffray writes. “While we continue to like the future growth prospects for HGG, we are maintaining our Neutral rating and $20 PT based on continued near-term challenges in TV and appliance trends.” HHGregg closed Wednesday at $19.58.