JPMorgan raised the firm’s price target on Sonic Automotive (SAH) to $67 from $65 and keeps an Underweight rating on the shares. The firm adjusted targets in the franchise auto dealers group as part of a Q1 preview. JPMorgan continues to see an attractive risk/reward for the sector, but says stock re-ratings will be pushed into late Q2 as underlying EBITDA growth becomes visible.
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