This Analyst Cuts Sonic Automotive’s Earnings Estimates & Price Target Citing Lower Industry Volume Assumptions
Benchmark analyst Michael Ward reiterated a Buy rating on the shares of Sonic Automotive Inc (NYSE: SAH) and lowered the price target from $71 to $62. The analyst said dealers are likely to carry 30% less inventory going forward than in the past, shifting from a discount model to a prestige relationship with consumers, resulting in higher levels of … Read more