Fly News Breaks for March 20, 2017
Mar 20, 2017 | 07:23 EDT
As reported previously, Canaccord analyst Lynne Collier downgraded Sonic to Hold from Buy. Collier cited challenging industry sales, the potential for Street estimates to be too high in the midst of soft sales, a lack of upcoming catalysts, and increasing competition from non-traditional venues such as convenience stores. Collier lowered her price target to $24 from $30 on Sonic shares.
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