Action/Event: We assume coverage of NCMI, maintaining an Outperform rating and raising our TP to $21 from $18. We decrease our 2016 adj. EPS forecast to $0.57 from $0.60 and forecast $0.70 for 2017 adj. EPS. We view the growth strategy of NCMI in attracting ad dollars out of other competing media, broadening its marketer base and investment in IT platforms to drive value for marketers, as compelling growth engines for the company
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