- Sonic (SONC +5.6%) rallies after topping Q3 estimates. An elevated level of short interest on Sonic may be adding to volatility.
- The results weren't strong enough to push Canaccord Genuity off its Hold ratings.
- "While we are encouraged that the company's new value messaging ($2.99 carhop classic) is resonating and underlying SSS have improved thus far in Q1, we look for greater evidence of sustainability before becoming more constructive on shares," writes analyst Lynne Collier.
- Guggenheim keeps a Buy rating on the restaurant stock and slide its price target to $29.
- Previously: Sonic beats by $0.02, misses on revenue (Oct. 16)
- Previously: Sonic lower after revenue shortfall (Oct. 16)