UPDATE: Jefferies Reiterates Hold Rating, Raises PT on Sonic Corporation Following F4Q EPS Pre-Announcement

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In a report published Friday, Jefferies analyst Alexander Slagle reiterated a Hold rating on

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Sonic Corporation

(NASDAQ: SONC), and raised the price target from $15.50 to $18.00.In the report, Jefferies noted, “SONC pre-announced F4Q EPS $0.30 vs. our/cons $0.28 as SSS +5.9% beat 2% consensus. F14 EPS outlook is essentially in-line with consensus (+14-15%), but stock rallying on stronger SSS & the hope that initial F14 EPS guide is conservative. We think modest EPS upside is possible, but stock fairly reflects improving visibility for positive SSS & double digit EPS growth.”Sonic Corporation closed on Thursday at $17.91.