UPDATE: Piper Jaffray Lowers Price Target on Sonic to $11

By John Harris
Benzinga Staff Writer
January 05, 2012 8:31 AM

Symbols: SONC

Posted in: Analyst Color, Price Target, Analyst Ratings

According to Piper Jaffray, Sonic (NASDAQ: SONC) price target is lowered to $11.

Piper Jaffray said that it is updating its estimates following 1Q12 results which were softer vs. the expectations. “We remain confident in our turnaround thesis and reiterate our Overweight rating but are lowering our PT to $11 (from $14) on SONC shares to more accurately reflect the company's current cost environment.”

Sonic closed yesterday at $6.85.

< Previous
UPDATE: Goldman Sachs Raises Price Target on Seagate Tech to $16

Next >
UPDATE: Citi Raises Price Target on Swift Transportation to $11.50

Printer-friendly version

Send to friend

We're Loving

The Money Conversation Your Family Can't Delay Having

Insiders Are Selling These Two Radio Stocks

You Could Have Profited 14% on AOL by Using Benzinga Pro. Try It for Free Now!

The Most Dangerous States to Drive In

Cramer: Lehman Case 'Is a Travesty of Justice'

Benzinga's Premium Memberships

Options & Volatility Edge

Options & Volatility Edge is for those people who want to make money using cost effective options trading strategies. This product is for anyone—novices and experts. If you understand how to enter an options trade, you need Options & Volatility Edge.

Learn More >>
14 Day Free Trial!

Basic Premium
ETF Professor

The ETF Professor is truly an appropriate moniker, because the Professor spends hours everyday analyzing the charts of dozens of ETFs EVERY DAY.

Learn More >>
14 Day Free Trial!

Basic Premium
Winning Stocks

Winning Stocks tracks and analyzes attractive stocks that are poised to make great returns for the average investor. Investors receive the right information at the right time, which provides them with the possibility for great gains and the potential to beat the market.

Learn More >>
14 Day Free Trial!

Basic Premium

Real-Time Rumors

In this game, information is everything. You have to know what is happening before the Street begins trading against you utilizing the new information. We will provide you with that edge.

Learn More >>
14 Day Free Trial!

Basic Premium
Chart-Caster

From novice to pro, Chart-Caster delivers over $11,000 per month* in profitable trade setups across all time-frames from which members can evaluate, select, and replicate within their own trading accounts.

Learn More >>
14 Day Free Trial!

Basic Premium

UPDATE: Piper Jaffray Lowers Price Target on Sonic to $11

Benzinga's Premium Memberships

More stories by John Harris

From Benzinga's Newsdesk

Benzinga's News Delivered Free

Latest from Premium

Brain Trust

Popular Channels

Tools & Features

About Benzinga

Social