Piper Jaffray Maintains HGG Neutral Rating, $21 PT

Piper Jaffray is maintaining its Neutral rating and $21 price target on shares of hhgregg, Inc. HGG “based on downwardly revised guidance in this morning's press release.” “While we continue to believe in the long-term growth prospects of HGG, we remain concerned about TV and appliance trends and we believe that they will remain a drag on results in the near-term,” Piper Jaffray writes. “We will be evaluating our estimates following tomorrow's meeting with management.” hhgregg currently trades at $20.71.