UPDATE: JP Morgan Lowers PT on Hhgregg from $18.00 to $15.00

J.P. Morgan has published a research report on hhgregg lowering the price target on the electronics retailer.

In the report, J.P. Morgan wrote, "Concerns continue to weigh with no near-term stock-specific catalysts. For the next month plus, we believe investors will remain apathetic to the stock as downside could come from some capitulation with no near-term catalysts. Best Buy reports in mid September and could offer some additional category color; however, concerns surrounding the company's new store productivity and growth profile will likely be an overhang on the stock until the next earnings report."

J.P. Morgan rated hhgregg a Neutral with a price target reduced from $18.00 to $15.00. Hhgregg closed Thursday at $24.92.