Morgan Stanley Upgrades Sonic Automotive to Equal-Weight, Raises Price Target to $58
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley has upgraded Sonic Automotive (NYSE:SAH) from Underweight to Equal-Weight and increased the price target from $40 to $58.
September 25, 2024 | 2:03 pm
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POSITIVE IMPACT
Morgan Stanley has upgraded Sonic Automotive from Underweight to Equal-Weight, raising the price target from $40 to $58. This upgrade reflects a more positive outlook on the company's stock performance.
The upgrade from Underweight to Equal-Weight by a major financial institution like Morgan Stanley is a significant positive signal for investors. The raised price target from $40 to $58 suggests increased confidence in the company's future performance, likely leading to a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100