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Fly News Breaks for September 28, 2016
SONC
Sep 28, 2016 | 07:17 EDT
Oppenheimer analyst Brian Bittner lowered his price target for Sonic to $33 from $40 after the company reported preliminary Q4 results. The analyst notes that while negative comp surprises bring disappointment, they also bring opportunity to enter a stock with limited earnings risk at an attractive valuation discount. Bittner reiterates an Outperform rating on the shares.
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