Morgan Stanley Maintains Underweight on Sonic Automotive, Raises Price Target to $40
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Adam Jonas maintains an Underweight rating on Sonic Automotive (NYSE:SAH) and raises the price target from $35 to $40.

February 29, 2024 | 11:20 am
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Morgan Stanley has maintained its Underweight rating on Sonic Automotive but increased the price target from $35 to $40.
While the increase in the price target from $35 to $40 suggests a positive outlook on the stock's potential to grow, the Underweight rating indicates a cautious stance by Morgan Stanley. This mixed signal could lead to neutral short-term price movement as investors weigh the increased price target against the continued Underweight rating.
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