** Automotive and powersports retailer Sonic Automotive SAH.N shares rise 1% to $70 in early trade
** Benchmark initiates coverage on co with "buy" rating, $76 price target, an upside of 9.5% to the stock's last close
** Says co benefiting from a resilient premium-luxury franchised business and strong exposure to key markets in Texas and California
** Adds franchised operations remain solid despite industry headwinds, while used vehicle platform EchoPark has returned to profitability as used vehicle supply recovers
** "SAH's entry into the $40B powersports market offers a capital-light growth avenue, leveraging its retail platform to scale a fragmented, high-margin space"- Benchmark
** Six of ten brokerages rate the stock "buy" or higher, four "hold"; their median PT is $74- data compiled by LSEG
** Including session moves, shares are up 11% YTD
(Reporting by Apratim Sarkar)
((Apratim.Sarkar@thomsonreuters.com))
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