Sonic Automotive (SAH) shares plummeted 5.01% during intraday trading on Monday, reflecting significant selling pressure on the stock.
The sharp decline followed an analyst action from Barclays, which lowered its price target on Sonic Automotive to $67 from $69 while maintaining an Equal Weight rating on the shares. Such downward revisions in price targets often signal reduced confidence in a company's near-term prospects and can trigger negative market sentiment among investors.
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