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National CineMedia -1.7% as Wedbush frets pandemic visibility

Jul. 29, 2020 9:33 AM ETNational CineMedia, Inc. (NCMI) StockNCMIBy: Jason Aycock, SA News Editor1 Comment
  • National CineMedia (NASDAQ:NCMI) has come out of today's open down 1.7% alongside a downgrade to Neutral at Wedbush, pointing to low visibility both into theater reopenings and the ad spending that flows from that.
  • It's facing up to "persistent theater closures, an uncertain release slate, and shrinking ad budgets in a post-COVID environment," analyst Michael Pachter writes.
  • On the upside, with liquidity a key concern in the sector, the company has enough cash to weather the pandemic shutdown, Pachter says.
  • While Wall Street analysts and Seeking Alpha authors are Bullish on the stock, it has a Quant Rating of Very Bearish.

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