UPDATE: Jefferies Initiates Sonic with Hold on Fair Estimates/Valuation

In a report published Wednesday, Jefferies analyst Alexander Slagle initiated coverage on Sonic Corporation (NASDAQ: SONC ) with a Hold rating and $14.00 price target. In the report, Slagle noted, “We think estimates & valuation fairly reflect improving visibility for NT EPS growth as share repurchase/debt pay-down accelerates, margins improve