Shearer believes the on-loan QPR man has made a big difference to his old club's fortunes.
He told the Evening Chronicle: "Remy is having a great season.
"He is key to Newcastle's success. I don't want to take anything away from the other players because Cabaye has been very good.
"Tim Krul has too and Coloccini is coming back into form. When you have a guy who can score goals, lead the line and can run in behind, it is the forwards that make the difference.
"It's very much like Papiss Cisse when he first arrived.
"Remy is scoring goals and he's looking very, very confident.
"Hopefully that can continue right throughout the season and he can stay fit."
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