Sonic Automotive price target raised to $64 from $58 at Stephens

Stephens raised the firm’s price target on Sonic Automotive to $64 from $58 and keeps an Overweight rating on the shares. The company reported strong Q3 results, with adjusted EPS beating estimates, the analyst tells investors. While the company reported lighter franchise earnings than expected, this was offset by the consolidation of EchoPark drove material profitability, the firm says. If production picks up more materially, the comoany would fare well against its auto retail peers, Stephens adds.