The Globe and Mail reports in its Thursday edition that National Bank Financial analyst Adam Shine has reaffirmed his "outperform" recommendation for Quebecor. The Globe's David Leeder writes in the Eye On Equities column that Mr. Shine raised his share target to $45 from $42. Analysts on average target the shares at $44.16. Mr. Shine is surprised by Quebecor's recent share price increase, suggesting it may be "due for a pause" before the next key data or catalysts for further growth. Mr. Shine says in a note: "We upgraded Quebecor on Aug. 11 following a pullback in the stock of more than 12 per cent over the prior six weeks from the close of Q2 to its reporting. We didn't expect such a quick bounce back to new record highs over the past five weeks. While management has done some recent marketing and back-to-school for wireless was deemed by carriers to be relatively stable compared to the prior two years. ... Quebecor has shown more discipline in cable where it has not chased loading over the past three quarters and during Q2 it eased up on its volume chase in wireless to deliver a better-than-expected year-over-year decline in ARPU which grew four cents quarter-over-quarter as a notable turning point post-Freedom."