Sonic Automotive shares are trading higher after B of A Securities upgraded the stock from Underperform to Buy and raised its price target from $55 to $68.
Portfolio Pulse from Benzinga Newsdesk
Sonic Automotive's stock (SAH) experienced a rise after B of A Securities upgraded its rating from Underperform to Buy and increased its price target from $55 to $68.
April 26, 2024 | 2:55 pm
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Sonic Automotive's stock received a significant upgrade from B of A Securities, moving from Underperform to Buy, with a raised price target from $55 to $68.
The upgrade by B of A Securities from Underperform to Buy, accompanied by a substantial increase in the price target from $55 to $68, directly impacts investor perception and confidence in Sonic Automotive. This positive analyst action is likely to lead to increased investor interest and potentially higher stock prices in the short term, as market participants adjust their positions based on the new information.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100