Oppenheimer Remains Bullish Ahead of Sonic Corp (SONC) 3Q15 Results

Oppenheimer reiterates an Outperform rating and $40.00 price target on Sonic (NASDAQ: SONC) ahead of 3Q15 results. Analyst Brian Bittner is expecting EPS of $0.37, a penny above consensus. SONC is scheduled to release 3Q15 results on June 22.

Bittner commented, "Reiterate Outperform thesis into earnings (6/22) and management's attendance at our conference (6/23). Industry trends are strong and SONC's unique sales/margin opportunities drive an attractive investment case: particularly at 11.6x EBITDA (2-3x below peers) with best FCF yield in the group. Plus, the set-up for earnings upside in F16E is intriguing against low Street assumptions with extra help from technology initiatives, improving unit growth and above-average use of capital."

For an analyst ratings summary and ratings history on Sonic click here. For more ratings news on Sonic click here.

Shares of Sonic closed at $32.57 yesterday.

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