JPMorgan analyst Rajat Gupta lowered the firm’s price target on Sonic Automotive (SAH) to $70 from $76 and keeps an Underweight rating on the shares. The firm adjusted franchise auto deal models post the Q3 reports. It believes it remains too early to get constructive on the group.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SAH:
- Sonic Automotive: Strong Core Performance and Attractive Valuation Justify Buy Rating
- Sonic Automotive management to meet virtually with Benchmark
- Sonic Automotive price target lowered to $90 from $95 at Needham
- Buy Rating for Sonic Automotive: Strong Franchise Performance and Positive Long-Term Outlook Amid EchoPark Challenges
- Sonic Automotive’s Earnings Call: Record Revenues Amid Challenges