JPMorgan analyst Rajat Gupta upgraded Sonic Automotive to Neutral from Underweight and raised his price target for the shares to $30 from $23. The analyst has "increased comfort" around improving EchoPark execution and profitability, as well as "lesser concerns" around relative growth in the company's traditional franchise business versus peers. Continued momentum in EchoPark profitability and strength in Parts & Services are likely to drive upward earnings revisions for Sonic Automotive's "for the time being," Gupta tells investors in a research note. However, he believes this is appropriately reflected in the company's current "premium "valuation.