The Globe and Mail reports in its Friday, July 12, edition that National Bank's Adam Shine is keeping an "outperform" ranking on Cineplex after assessing its most recent business conditions. The Globe's Darcy Keith writes that Mr. Shine continues to target the shares at $12.50, eight cents under the consensus. Mr. Shine figures that an improving debt load could lead to buying back shares later this summer and possibly reinstating a small dividend in about a year. Cineplex shares are up about 20 per cent since June 20 thanks to box office success from animation sequels -- Inside Out 2 and Despicable Me 4. Mr. Shine says in a note: "The combination last year of Barbie and Oppenheimer makes for a tough comp, but Deadpool and Wolverine starts July 26 and is expected to be the top grossing movie of 2024. Post-August, easier comps prevail for the next nine-plus months given material impact of the Hollywood strikes. Following Cineplex's Q3 reporting in mid-August, the long-awaited 'sustainable' recovery at the box office should begin to materialize given a steady flow of film releases." He adds that if a box office recovery occurs, Cineplex should be able to trade in line with or even at a premium to its North American peers.