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UPDATE: Bank Of America Downgrades Sonic Automotive

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In a report released Wednesday, Bank of America analyst John Murphy downgraded Sonic Automotive (NYSE: SAH) from Buy to Underperform and lowered its price target from $39 to $27.

Analysts at Bank of America downgrade Sonic due to the company's execution issues. Murphy said Sonic is underperforming in comparison to its peers within the automotive retail sector and the company's SG&A expense has been rising faster than its gross profit.

Bank of America's $27 price target for Sonic is based on the change of Bank of America's 2015 EPS estimate from 15X to 12.5x.

Latest Ratings for SAH

DateFirmActionFromTo
Feb 2019JP MorganInitiates Coverage OnUnderweight
Aug 2018Morgan StanleyMaintainsUnderweightUnderweight
Jul 2018BuckinghamMaintainsNeutralNeutral

View More Analyst Ratings for SAH
View the Latest Analyst Ratings

Posted-In: Bank of America John MurphyDowngrades Price Target Analyst Ratings

 

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