Sonic Automotive price target lowered to $69 from $71 at Barclays

Barclays analyst John Babcock lowered the firm’s price target on Sonic Automotive (SAH) to $69 from $71 and keeps an Equal Weight rating on the shares. The firm adjusted targets in the auto retail group as part of its Q4 outlook. It broadly lowered estimates across the sector on “soft” auto sales unit pressures. However, trade checks suggest the used vehicle market has good momentum, the analyst tells investors in a research note.