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Shares of National CineMedia Inc. have more than quadrupled in two days, as Wall Street appeared to shrug off the in-theater advertising company’s bankruptcy filing, and focused instead on the upbeat revenue outlook.
“Despite a difficult advertising environment and a still-recovering box office, NCM [National CineMedia] is well-positioned within the ad delivery ecosystem as theatrical attendance is beginning to meaningfully rebound,” Wedbush analyst Alicia Reese wrote in a note to clients. “We think NCM is fundamentally set…
