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SONC

Sonic

$23.71

-0.19 (-0.79%)

09:27
09/15/17
09/15
09:27
09/15/17
09:27

Sonic pursuing correct strategy for 2018, says Cowen

Cowen analyst Andrew Charles believes Sonic is pursuing the right strategy for 2018 in enhancing quality and increasing marketing efforts towards the core female customer via non-TV tactics. He does expect industry challenges to persist, but he believes downside is limited by its share repurchase authorization. Charles maintained his Market Perform rating and $25 price target on Sonic shares.

SONC Sonic
$23.71

-0.19 (-0.79%)

04/24/17
04/24/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Stanley Black & Decker (SWK) upgraded to Overweight from Neutral at JPMorgan with analyst Michael Rehaut saying the company's "solid" organic growth provides room for additional share upside. The analyst raised his price target for the shares to $152 from $140 following Stanley's first quarter results. 2. KeyCorp (KEY) upgraded to Overweight from Neutral at Piper Jaffray with analyst Kevin Barker saying momentum is building following the company's "solid beat" this quarter and "very optimistic" guidance regarding loan growth and credit performance. The analyst raised his price target for the shares to $21 from $19. 3. Sonic (SONC) upgraded to Overweight from Equal Weight at Stephens with analyst Will Slabaugh saying he believes it now presents an attractive buying opportunity on what he sees as a same-store sales inflection point in the third quarter, with comps likely turning positive intra-quarter, an underlying valuation that is over 20% below peers with a similar franchise percentage, and lowered expectations from recent sales softness providing for a favorable risk/ reward. The analyst also raised his price target on the shares to $32 from $26. 4. Travelers (TRV) upgraded to Buy from Hold at Argus with analyst Jacob Kilstein telling investors he expects underwriting margins to expand further following three straight quarters of expansion as the company raises prices on auto insurance and expands its data analytics and digital initiatives. Kilstein also expects Travelers to generate higher return on capital, noting its recent 7% dividend hike and additional $5B buyback, and views valuation as attractive following the pullback. 5. Wingstop (WING) upgraded to Overweight from Equal Weight at Stephens with analyst Will Slabaugh upgraded Wingstop (WING) to Overweight from Equal Weight, with a $32 price target, as he believes it presents an attractive, multi-year opportunity for likely reaccelerating same-store sales growth that should widen its gap to the industry while benefiting from national advertising, and a likely one time dividend in the next 12-18 months that could yield a double-digit return. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/23/17
WELS
05/23/17
INITIATION
Target $30
WELS
Market Perform
Sonic initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Jon Tower started Sonic with a Market Perform rating and $30 price target.
06/13/17
BOFA
06/13/17
DOWNGRADE
Target $30
BOFA
Underperform
Sonic downgraded to Underperform from Buy at BofA/Merrill
BofA/Merrill analyst Gregory Francfort downgraded Sonic (SONC) two notches to Underperform from Buy but raised its price target to $30 from $27. The analyst said the downgrade is not a call on the quarter and sees limited downside to Q3 and Q4 but notes shares are up 29% since March 21. Francfort said he is concerned about 2018 earnings as McDonald's (MCD) becoming more aggressive and believes shares should trade at a discount to peers due to slower unit growth.
06/13/17
06/13/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Foot Locker (FL) downgraded to Hold from Buy at Argus with analyst John Staszak citing weakening demand for Nike (NKE) footwear. 2. Sonic (SONC) downgraded to Underperform from Buy at BofA/Merrill with analyst Gregory Francfort downgrading Sonic two notches to Underperform from Buy and raising its price target to $30 from $27 while saying the downgrade is not a call on the quarter and sees limited downside to the third quarter and fourth quarter. 3. Shopify (SHOP) downgraded to Neutral from Buy at Goldman Sachs with analyst Jesse Hulsing saying the risk/reward is balanced with the shares up 105% since his upgrade on October 4, 2016. The analyst keeps a $96 price target for the stock. 4. Consolidated Edison (ED) downgraded to Hold from Buy at Jefferies with analyst Anthony Crowdell saying he views the shares as fairly valued following the recent rally and lowered his estimates to reflect a higher share count. 5. Zoetis (ZTS) downgraded on valuation at BMO Capital with analyst Alex Arfaei citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

FB

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FB

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GE

General Electric

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-0.625 (-3.33%)

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HMNY

Helios and Matheson

$7.64

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EEM

MSCI Emerging Markets Index

$49.79

0.275 (0.56%)

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Notable interest in iShares Emerging Markets Fund options »

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C

Citi

$77.54

0.695 (0.90%)

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Citi CFO says U.S. Retail Services growing slightly above outlook »

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VPG

Vishay Precision

$27.30

0.55 (2.06%)

10:38
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Vishay Precision management to meet with Sidoti »

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  • 16

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SITE

SiteOne Landscape

$71.28

-0.2 (-0.28%)

10:37
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SiteOne Landscape management to meet with William Blair »

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  • 16

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IWM

iShares Trust Russell 2000 Index Fund

$159.21

1.05 (0.66%)

, RUT

Russell 2000 Index

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Technical Analysis
Technical View: Russell 2000 Index crosses above 1600, new life high »

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IWM

iShares Trust Russell 2000 Index Fund

$159.21

1.05 (0.66%)

RUT

Russell 2000 Index

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LPTH

LightPath

$2.42

0.09 (3.86%)

10:36
01/16/18
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Conference/Events
LightPath management to meet with Roth Capital »

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  • 16

    Jan

LOW

Lowe's

$104.00

3.14 (3.11%)

10:35
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Lowe's management to meet with UBS »

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  • 18

    Feb

GE

General Electric

$18.17

-0.595 (-3.17%)

10:35
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Periodicals
GE breakup likely, announcement may come this Spring, CNBC reports »

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  • 16

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C

Citi

$77.56

0.715 (0.93%)

10:33
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Hot Stocks
Breaking Hot Stocks news story on Citi »

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  • 16

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10:33
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Conference/Events
UBS leisure analyst holds an analyst/industry conference call »

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ITRN

Ituran

$35.30

1.25 (3.67%)

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Conference/Events
Ituran management to meet with Jefferies »

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  • 16

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C

Citi

$77.50

0.66 (0.86%)

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  • 16

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AXTA

Axalta Coating

$31.99

-0.45 (-1.39%)

, UBS

UBS

$19.62

0.03 (0.15%)

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Initiation
On The Fly: Top five analyst initiations »

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AXTA

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UBS

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CS

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NTR

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DRNA

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  • 24

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UA

Under Armour; also tag UAA

$13.13

-1.01 (-7.14%)

, UAA

Under Armour; also tag UA

$14.21

-0.91 (-6.02%)

10:32
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Downgrade
On The Fly: Top five analyst downgrades »

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UA

Under Armour; also tag UAA

$13.13

-1.01 (-7.14%)

UAA

Under Armour; also tag UA

$14.21

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VZ

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LMT

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0.06 (0.02%)

COL

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SAVE

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FNSR

Finisar

$22.74

0.48 (2.16%)

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  • 23

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QCOM

Qualcomm

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-0.05 (-0.08%)

, TWTR

Twitter

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-0.535 (-2.11%)

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Upgrade
On The Fly: Top five analyst upgrades »

Catch up on today's…click here.

QCOM

Qualcomm

$65.38

-0.05 (-0.08%)

TWTR

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PG

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NOC

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CW

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ADTN

Adtran

CIEN

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TWTR

Twitter

$24.85

-0.565 (-2.22%)

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Periodicals
Greenlight took 'small' stake in Twitter in Q4, Bloomberg reports »

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  • 17

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  • 07

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XLF

Financial Select Sector

$29.38

0.15 (0.51%)

10:30
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Options
Notable spread in SPDR Financials as the sector sees strength »

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10:29
01/16/18
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Conference/Events
UBS automotive analyst holds an analyst/industry conference call »

Automotive Analyst Hummel…

10:28
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General news
Tax reform optimism, Merck help push Dow up 1% to over 26,000 »

Stock futures were strong…

C

Citi

$77.60

0.76 (0.99%)

10:27
01/16/18
01/16
10:27
01/16/18
10:27
Hot Stocks
Citi CFO sees branded-cards NCL rate rising to 300bps in 2018 »

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  • 16

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CF

CF Industries

$41.63

-1.8919 (-4.35%)

10:26
01/16/18
01/16
10:26
01/16/18
10:26
Technical Analysis
Technical View: CF Industries falls sharply to session lows »

The stock was last down…

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10:25
01/16/18
01/16
10:25
01/16/18
10:25
General news
U.S. corporate bond update: moderate issuance is expected »

U.S. corporate bond…

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