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Fly News Breaks for April 26, 2019
Apr 26, 2019 | 08:41 EDT
As previously reported, BofA/Merrill upgraded Sonic Automotive to Buy from Neutral and raised its price target to $23 from $19. Analyst John Lovallo said the core business is performing well and EchoPark has turned a small profit, after being a material drag on earnings, and has possibly turned the corner. The analyst expects investors to revisit the story and believes if EchoPark continues to open stores and profitability, there many be another leg up for the shares.
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