The Globe and Mail reports in its Saturday, April 29, edition that National Bank Financial analyst Adam Shine has elevated his recommendation for Spin Master to "outperform" from "sector perform." The Globe's David Leeder writes that Mr. Shine continues to target the shares at $42. The Globe calls it a "Street low" target. Analysts on average target the shares at $48.11. Mr. Shine says Spin Master faces a "very tough comp" with its first quarter versus a year ago. Mr. Shine tweaked his rating after U.S. peers Mattel and Hasbro saw significant share price jumps following better-than-anticipated results. Mr. Shine says in a note: "Consensus (ex-outliers) is largely unchanged with total revs at $241.2-million and Adj. EBITDA at $22.7-million. TOY's 2022 began with carry-over strength in Preschool and Dolls & Interactive driven by Gabby's Dollhouse, Wizarding World and PAW Patrol while Wheels & Action benefitted from DC Comics products given The Batman movie. 1Q23 has been characterized by retailer destocking. TOY noted with its 2023 outlook that 1H would represent 30 to 35 per cent of annual GPS versus an anomalously high 44.6 per cent in 1H22 and 1Q would account for 10 per cent versus 20 per cent of GPS."