Wedbush ups National CineMedia to Outperform on valuation as backdrop improves

As previously reported, Wedbush upgraded National CineMedia (NCMI) to Outperform from Neutral with a $7.50 price target The firm believes the company stands to gain from a strong box office environment beginning in Q2 through 2026, and from linear TV advertising dollars shifting toward CTV and highly targeted advertising mediums like cinema. National CineMedia is putting various measures in place to gain advertising market share, and the recent share price retreat has created a compelling valuation story, with 30% upside to Wedbush’s price target the firm adds.