UPDATE: Barrington Research Upgrades National CineMedia to Outperform on Ad Demand Outlook

Barrington Research raised its rating on National CineMedia

from Market Perform to Outperform with a $17 price target. Barrington Research commented, "While near-term results are expected to show some elements of weakness, we expect that over time management's challenges will shift to managing ad demand in a way that will create an environment in which CPMs on national ad spots can move higher. We view this as a story that continues to evolve, and should provide substantial opportunity given the core value proposition of targeting a demographically attractive captive audience at a time in which the advertising driven content is unavoidable and typically embraced as preferable to a blank screen. The yield is now an even more attractive 6.7%, following the recent pullback in the stock." National CineMedia closed at $13.14 on Thursday.