The Globe and Mail reports in its Tuesday, Nov. 7, edition that National Bank Financial analyst Adam Shine has upgraded his recommendation for TVA Group to "sector perform" from "underperform." The Globe's David Leeder writes that Mr. Shine's share target soared 90 cents to $1.60. Mr. Shine is the lone analyst covering the stock. He views TVA Group's "material" restructuring plan as "necessary given secular challenges being exacerbated by cyclical pressures. The Globe says Mr. Shine is awaiting further details on restructuring costs and anticipated savings. On Friday, the Montreal-based broadcaster announced significant changes including cessation of in-house production of entertainment, restructuring of its news division and optimization of real estate assets. Those will result in the reduction of its staff by 31 per cent with 547 positions getting eliminated. Mr. Shine says in a note: "Why now and how come so big? Secular challenges over the past 20-plus years have been exacerbated by added cyclical pressures over the past 15 months and regulations that have not evolved to offer needed help to private broadcasters. TVA will phase out production activities as they are outsourced to external suppliers."