Credit Suisse Assumes NCMI Coverage At Outperform, $21 PT

Credit Suisse reports that it recently caught up with National CineMedia, Inc. NCMI management through a conference call with CFO, Gary Ferrera, and VP Finance, David Oddo, in addition to a visit to the company headquarters in Centennial, CO. “We were left with insights regarding the advertising market, competition in the industry, updates on the 3D market, long-term growth prospects, and strategies for returning capital, among other topics,” Credit Suisse writes. “We are assuming primary coverage with an unchanged Outperform rating and $21 target price.” National CineMedia currently trades at $17.71.