NCMI - National CineMedia falls as price target lowered to $1.50 at B. Riley

B. Riley analyst Eric Wold lowered the firm's price target on National CineMedia (NCMI) to $1.50 from $4 and keeps a Neutral rating on the shares. The analyst downgraded media and entertainment names to reflect the "rapidly changing" economic and consumer spending environments. Also, believes the company-specific issues could be exacerbated by the deteriorating consumer outlook. National CineMedia's SA Quant Rating stands with Hold, but is in contrast to Wall St. Analysts Rating of Strong Buy (3 Very Bullish, 1 Bullish). Since the start of 2022, National CineMedia shares were down around 65%, and over a period of one year, shares were down around 78%. Shares are currently down ~10.33% to $1.09 today.

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National CineMedia falls as price target lowered to $1.50 at B. Riley