Market Overview

UPDATE: William Blair & Company Upgrades Sonic Following Investor Meetings with Management

Related SONC
Tax Day Freebies To Lighten The Load
Benzinga's Top Downgrades
Investors Grow Hungry For Sonic, Shares Balloon 11% (Fox Business)

In a report published Wednesday, William Blair & Company analyst Sharon Zackfia upgraded the rating on Sonic (NASDAQ: SONC) from Market Perform to Outperform.

In the report, William Blair & Company noted, “We recently hosted investor meetings with Sonic's management team and came away with enhanced conviction in the company's ability to drive sustainable 15% to 20% EPS growth on low-single-digit same-store sales. While we believe the fiscal first quarter (ended November) is likely on track to meet consensus expectations ($0.13 on an approximate 2.0% to 2.5% comp), we are raising our full-year fiscal 2014 EPS estimate slightly ahead of consensus and our fiscal 2015 estimate even more so as we expect the upcoming rollout of a new POS system and point-of-personalized-service (POPS) menu boards to add greater predictability to comp trends while driving material margin improvement.”

Sonic closed on Tuesday at $19.69.

Posted-In: Sharon Zackfia William Blair & CompanyAnalyst Color Upgrades Analyst Ratings


Most Popular

Related Articles (SONC)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free