JP Morgan Maintains Underweight on Sonic Automotive, Raises Price Target to $53
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Rajat Gupta maintains an Underweight rating on Sonic Automotive (NYSE:SAH) and raises the price target from $48 to $53.

May 02, 2024 | 4:01 pm
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JP Morgan analyst Rajat Gupta maintains an Underweight rating on Sonic Automotive but raises the price target from $48 to $53.
While the upgrade in price target from $48 to $53 suggests a positive outlook on the stock's value, the maintenance of an Underweight rating indicates ongoing concerns about the company's performance relative to the market. This mixed signal could lead to neutral short-term price movement as investors weigh the increased price target against the cautious rating.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100