National CineMedia price target raised to $6 from $5.50 at Wedbush

Wedbush analyst Alicia Reese raised the firm’s price target on National CineMedia to $6 from $5.50 and keeps a Neutral rating on the shares. While the box office recovered well through the first three quarters of 2023, National CineMedia faced a very difficult advertising environment that forced the company into restructuring, the firm notes. Wedbush believes National CineMedia is well-positioned within a recovering ad delivery ecosystem as it provides premium advertising slots that target highly valued demographics in a focused environment. And it thinks National CineMedia can capture expanding OIBDA margins over the next few years.