Barclays Raises Price Target and Estimates on Sonic (SONC); Bullish on Continued Outperformance

June 21, 2012 4:18 PM EDT Send to a Friend
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Price: $20.43 -2.95%

Rating Summary:
    8 Buy, 9 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 10 | New: 20
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Barclays maintains an 'Equalweight' on Sonic (NASDAQ: SONC) price target of $9.00 (from $8.00)

Analyst, Jeffrey A. Bernstein, said, "SONC outperformed on both the top (pre-announced) and bottom line in 3QF12. And management offered bullish commentary on the long-term growth algorithm culminating in low-to-mid teen EPS growth...We're raising estimates modestly, though believe SONC is fairly valued at 14.5x forward vs. a 11-20x three-year range and 14.5x average."

Bernstein raises FY12 EPS estimate from $0.58 to $0.59 and FY13 from $0.66 to $0.68.

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 $9.34 yesterday.




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