The Globe and Mail reports in its Friday, Jan. 16, edition that while National Bank Financial analyst Adam Shine lowered his forecast for Cineplex further to reflect weaker-than-anticipated box office results in December, he thinks "optimism persists for 2026" and believes "momentum will build" after the first quarter. The Globe's David Leeder writes that Mr. Shine has reaffirmed his "outperform" recommendation for Cineplex. Mr. Shine cut his share target to $14 from $13.50. Analysts on average target the shares at $13.13. Mr. Shine says in a note: "Gower Street Analytics expects the domestic box office (United States and Canada) to grow 11 per cent this year. We're at up 9 per cent. The Hollywood unions are gearing up for triennial negotiations with the studios, with the WGA (writers) contract to expire on May 1, while DGA (directors) and SAG-AFTRA (actors) contracts expire on June 30. We expect ongoing contention around AI, but see little chance of anyone striking. ... One caveat for 2026 is that movies from December, 2025, especially the third Avatar which is tracking below its prior films, will provide less momentum at the start of this year, so expectations remain that traction will build post-Q1."