The Globe and Mail reports in its Wednesday edition that National Bank analyst Adam Shine has reaffirmed his "outperform" recommendation for Cineplex. The Globe's David Leeder writes that Mr. Shine gave his share target a $2.50 boost to $15. Analysts on average target the shares at $12.92. Mr. Shine says in a note: "Over a week ago, the five-day Thanksgiving holiday period per Box Office Mojo delivered a record box office of $422-million (U.S.), massively beating the prior 2018 record of $316-million (U.S.). Moana 2, Wicked and Gladiator II combined for $383-million (U.S.). The three-day weekend total of $271-million (U.S.) trounced 2018's $216-million (U.S.). The first Moana movie, released in 2016, opened with $57-million (U.S.) in receipts and went on to do a total of $249-million (U.S.) at the North American box office. Moana 2 opened with $140-million (U.S.) in North American receipts and in its second weekend helped deliver, along with Wicked and Gladiator II, a record post-Thanksgiving weekend. Ahead of U.S. Thanksgiving, the North American box office was sitting more than 11 per cent below the level of 2023. Following the record results of the past 12 days, the gap has been reduced to about 4 per cent."
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