The Globe and Mail reports in its Wednesday edition that National Bank's Adam Shine has "some optimism" for Canadian telecommunications companies entering 2026 after "dismal sector performances in 2023 and 2024 triggered by a resetting of the competitive landscape" brought on by Rogers Communications' acquisition of Shaw Communications and Quebecor's deal for Freedom. The Globe's David Leeder writes that Mr. Shine continues to rate Rogers "outperform" with a $60 share target. Analysts on average target the Class B shares at $57.28. Mr. Shine says in a note: "We downgraded Telus at the end of 2024 and upgraded it near the end of 2025 as its inflated premium telecom valuation to Bell and Rogers more fully dissipated in the fall amid rising concerns about its ongoing dividend growth policy which was prudently announced on Dec. 3 as being paused exiting 2025. ... We downgraded Quebecor on Nov. 25 and await a better buying opportunity, as we continue to like the company's wireless execution, greater discipline in cable, control over costs, and leverage position. Quebecor is a wildcard which could jump a spot or two higher. Telus offers a dividend yield of 9.5 per cent, well above peers, and we don't foresee a dividend cut."