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BancBoston Robertson Stephens Reiterates Buy Rating on SAH

10 June 1999

BancBoston Robertson Stephens Reiterates Buy Rating on SAH

       Analyst Jordan Hymowitz Highlights Sonic as Favorite Stock Pick

    SAN FRANCISCO, June 9 -- The following is being issued by
BancBoston Robertson Stephens, a member of the National Association of
Securities Dealers, CRD number 41271:

    BancBoston Robertson Stephens senior automobile services analyst
Jordan Hymowitz today reiterated his Buy rating on Sonic Automotive, Inc.
. Sonic Automotive, headquartered in Charlotte, N.C., is the
nation's sixth-largest auto retailer, retailing new vehicles from
111 franchises representing 24 domestic and foreign brands.
    "We are reiterating our Buy rating on Sonic, with a 12-month price target
of $22. At current prices, Sonic is our top stock pick," said Hymowitz. "We
maintain our current estimates, but believe they are conservative as they
assume no margin improvement, industry auto sales of 15.1 million units, and
no incremental acquisitions.
    "We expect Sonic to exceed our second quarter 1999 earnings per share
estimate by at least $0.02, and look for additional acquisitions to be
announced in late June or early July. Such acquisitions would be accretive to
earnings, in our view, and could lead us to raise our 2000 earnings per share
estimate by $0.05 to $0.10," said Hymowitz.
    Clients interested in receiving more information should contact their
salesperson at 415-781-9700.
    BancBoston Robertson Stephens is a leading international investment
banking firm focused on growth companies. The firm's 55 equity and high yield
research analysts cover more than 600 companies. Additional information is
available upon request.
    The information contained herein is not a complete analysis of every
material fact respecting any company, industry or security. Although opinions
and estimates expressed herein reflect the current judgment of BancBoston
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