- 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.