Market Overview

UPDATE: Sterne Agee Downgrades Sonic Corporation to Neutral on Balanced Risk/Reward

Related SONC
Morgan Stanley Thinks Sonic's Long-Term Story Is 'Intact'
Events for the Week of Nov. 17-21, 2014
EMCORE Selling Space Solar Business to Veritas Capital (Fox Business)

In a report published Friday, Sterne Agee analyst Lynne Collier downgraded the rating on Sonic Corporation (NASDAQ: SONC) from Buy to Neutral.

In the report, Collier noted, “We are downgrading shares of SONC from BUY to Neutral as we believe that shares are fully valued at current levels given an appreciation of ~48% over the last 12 months. While we remain optimistic that the company can generate low-single-digit SSS and low-double-digit EPS growth over the intermediate term, we believe that the risk/reward is fairly balanced. Shares of SONC are presently trading at 17.6x our FY13 EPS estimate (vs. 3-yr historical P/E of ~14.7x) and ~8.7x on an EV/EBITDA basis.”

Sonic Corporation closed on Thursday at $11.93.

Latest Ratings for SONC

DateFirmActionFromTo
Dec 2014OppenheimerMaintainsOutperform
Nov 2014Longbow ResearchDowngradesBuyNeutral
Oct 2014WunderlichMaintainsBuy

View More Analyst Ratings for SONC
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Downgrades Analyst Ratings

 

Related Articles (SONC)

Around the Web, We're Loving...

Get Benzinga's Newsletters