Sonic Automotive Reports First Quarter Financial Results

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Sonic Automotive (SAH) double-upgraded at BofA as EchoPark turns the corner

April 26, 2024 8:26 AM EDT

On Friday, Sonic Automotive (NYSE: SAH) received a significant upgrade from Bank of America (BofA) from Underperform to Buy, with a revised price target set to $68 from the previous $55 per share. This adjustment comes in the wake of Sonic Automotive's first-quarter earnings for 2024, which surpassed expectations and maintained the full-year outlook for 2024.

The upgrade was attributed to positive... More