Barclays analysts lowered their price target on Sonic shares to $8, citing the restaurant operator's 2011 guidance with limited visibility.
Barclays reiterated its equal weight rating on Sonic shares.
KeyBanc Capital Markets downgraded its rating on Sonic to hold, from buy.RBC Capital Markets reiterated its sector perform rating on Sonic, but lowered its price target to $10, from $11, according to Briefing.com. Sonic shares fell sharply in the first minutes of trading but quickly reversed direction. Less than 90 minutes into the session, the stock was 2.1% higher. Nearly 800,000 shares were in play, compared with their three-month trailing average of 617,000. >>Bankruptcy Watch: 20 Riskiest Restaurant Stocks Elsewhere in the fast food sector, Good Times Restaurants (GTIM) shares jumped 18.6% on heavy volume, but the gain amounted to just 11 cents. Last month Good Times received a second warning notice from the NASDAQ threatening its delisting for being noncompliant with the rule that requires minimum stockholder equity of $2.5 million or $35 million market value of listed securities, or $500,000 of net income from continuing operations for the most recent fiscal year or two of the three most recent fiscal years. As of its most recently reported quarterly results on June 30, Good Times' stockholder equity was $2.2 million. >>Good Times Turn Bad: Delisting Looms -- Written by Miriam Marcus Reimer in New York.
>To contact the writer of this article, click here: Miriam Reimer. >To follow the writer on Twitter, go to http://twitter.com/miriamsmarket. >To submit a news tip, send an email to: email@example.com.
>>See our new stock quote page. Get more stock ideas and investing advice on our sister site, Stockpickr.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV