Downgrades Outperform Neutral X

AA Alcoa

Macquarie

$34 $25

Downgrades Outperform Neutral X

AAL American Airlines

Macquarie

$43 $34

Downgrades Outperform Neutral X

AAPL Apple

Macquarie

Downgrades Outperform Neutral X

ABX Barrick Gold

Macquarie

Initiated Neutral X

ACEL Accel Entertainment

Macquarie

$13

Initiated Outperform X

ADSK Autodesk

Macquarie

$380

Initiated Outperform X

ADUS Addus HomeCare

Macquarie

$136

Initiated Outperform X

AER AerCap

Macquarie

Initiated Neutral X

AGL Agilon Health

Macquarie

Downgrades Outperform Neutral X

AGR AVANGRID

Macquarie

$49.50

Downgrades Outperform Neutral X

AKS AK Steel

Macquarie

Initiated Outperform X

AL Air Lease

Macquarie

Upgrades Neutral Outperform X

ALGT Allegiant Travel

Macquarie

$149

Downgrades Outperform Neutral X

ALK Alaska Air

Macquarie

$79 $63

Upgrades Neutral Outperform X

ALK Alaska Air

Macquarie

Downgrades Outperform Neutral X

ALK Alaska Air

Macquarie

Downgrades Neutral Underperform X

ALSN Allison Transmission

Macquarie

Initiated Outperform X

ALTM Arcadium Lithium

Macquarie

$7.30

Upgrades Neutral Outperform X

AMCR Amcor

Macquarie

Downgrades Outperform Neutral X

AMCR Amcor

Macquarie

Downgrades Outperform Neutral X

AMCX AMC Networks

Macquarie

$45

Initiated Outperform X

ANET Arista Networks

Macquarie

Initiated Outperform X

ANGI ANGI Homeservices

Macquarie

Upgrades Underperform Neutral X

APA Apache

Macquarie

Upgrades Neutral Outperform X

APC Anadarko Petroleum

Macquarie

Initiated Outperform X

API Agora

Macquarie

$80

Upgrades Underperform Neutral X

APPN Appian

Macquarie

$80

Initiated Underperform X

APPN Appian

Macquarie

Downgrades Outperform Neutral X

APPS Digital Turbine

Macquarie

$12

Upgrades Neutral Outperform X

APPS Digital Turbine

Macquarie

$80

Initiated Outperform X

APTV Aptiv

Macquarie

Upgrades Underperform Neutral X

AR Antero Resources

Macquarie

Initiated Underperform X

AR Antero Resources

Macquarie

Upgrades Underperform Outperform X

ASX ASE Technology

Macquarie

Downgrades Neutral Underperform X

ASX ASE Technology

Macquarie

Initiated Outperform X

ATAT Atour Lifestyle Hldgs. Ltd.

Macquarie

$26

Downgrades Neutral Underperform X

ATHM Autohome

Macquarie

$109 $70

Initiated Outperform X

ATHM Autohome

Macquarie

Downgrades Outperform Neutral X

ATI Allegheny Tech

Macquarie

$34 $28

Initiated Outperform X

ATI Allegheny Tech

Macquarie

Initiated Outperform X

ATUS Altice USA

Macquarie

$23.50

Upgrades Neutral Outperform X

AUY Yamana Gold

Macquarie

Initiated Outperform X

AYR Aircastle

Macquarie

Upgrades Neutral Outperform X

BABA Alibaba

Macquarie

$145

Downgrades Outperform Neutral X

BABA Alibaba

Macquarie

$88.50 $85.40

Resumed Outperform X

BABA Alibaba

Macquarie

$162

Reiterated Outperform X

BABA Alibaba

Macquarie

$220 $224

Reiterated Outperform X

BABA Alibaba

Macquarie

$250 $225

Downgrades Outperform Neutral X

BAC Bank of America

Macquarie

Downgrades Outperform Neutral X

BALY Bally’s Corporation

Macquarie

Initiated Neutral X

BB BlackBerry

Macquarie

Initiated Outperform X

BGNE BeiGene

Macquarie

$259

Resumed Outperform X

BIDU Baidu

Macquarie

$150

Initiated Outperform X

BIDU Baidu

Macquarie

$188

Downgrades Outperform Neutral X

BIDU Baidu

Macquarie

Initiated Outperform X

BKD Brookdale Senior Living

Macquarie

$7.50

Upgrades Neutral Outperform X

BLD TopBuild

Macquarie

Downgrades Outperform Neutral X

BMO Bank of Montreal

Macquarie

Upgrades Neutral Outperform X

BMO Bank of Montreal

Macquarie

Initiated Neutral X

BRZE Braze

Macquarie

$30

Upgrades Neutral Outperform X

BSTI BEST Inc.

Macquarie

Upgrades Neutral Outperform X

BTE Baytex Energy Trust

Macquarie

Downgrades Outperform Neutral X

BTE Baytex Energy Trust

Macquarie

Upgrades Neutral Outperform X

BTE Baytex Energy Trust

Macquarie

Upgrades Underperform Neutral X

BTE Baytex Energy Trust

Macquarie

Downgrades Outperform Neutral X

BUD Anheuser-Busch InBev

Macquarie

Upgrades Neutral Outperform X

BZ Kanzhun Limited

Macquarie

Downgrades Outperform Neutral X

BZ Kanzhun Limited

Macquarie

Initiated Outperform X

BZ Kanzhun Limited

Macquarie

$24.10

Upgrades Neutral Outperform X

C Citigroup

Macquarie

Reiterated Neutral X

C Citigroup

Macquarie

$82 $84

Initiated Outperform X

CART Instacart

Macquarie

$42

Initiated Outperform X

CASA Casa Systems

Macquarie

$8

Downgrades Outperform Neutral X

CASA Casa Systems

Macquarie

Upgrades Neutral Outperform X

CCE Coca-Cola European Partners

Macquarie

Downgrades Outperform Neutral X

CCI Crown Castle

Macquarie

Upgrades Neutral Outperform X

CCL Carnival

Macquarie

Upgrades Neutral Outperform X

CCL Carnival

Macquarie

Initiated Outperform X

CDEV Centennial Resource Development

Macquarie

Upgrades Neutral Outperform X

CEO CNOOC Ltd

Macquarie

Downgrades Outperform Neutral X

CEO CNOOC Ltd

Macquarie

Upgrades Neutral Outperform X

CEO CNOOC Ltd

Macquarie

Upgrades Neutral Outperform X

CFG Citizens Financial Group

Macquarie

Upgrades Underperform Neutral X

CFG Citizens Financial Group

Macquarie

Upgrades Neutral Outperform X

CHD Church & Dwight

Macquarie

Initiated Outperform X

CHDN Churchill Downs

Macquarie

$254

Initiated Neutral X

CHKP Check Point Software

Macquarie

$129

Initiated Outperform X

CIFR Cipher Mining

Macquarie

$6

Downgrades Outperform Neutral X

CL Colgate-Palmolive

Macquarie

Initiated Outperform X

CLAR Clarus Corporation

Macquarie

Initiated Outperform X

CLF Cleveland-Cliffs

Macquarie

Downgrades Outperform Neutral X

CLS Celestica

Macquarie

Initiated Outperform X

CLSK CleanSpark

Macquarie

$20

Downgrades Neutral Underperform X

CMA Comerica

Macquarie

Upgrades Neutral Outperform X

CMC Commercial Metals

Macquarie

Upgrades Underperform Neutral X

CMC Commercial Metals

Macquarie

Upgrades Underperform Neutral X

CMCSA Comcast

Macquarie

$46

Downgrades Neutral Underperform X

CMCSA Comcast

Macquarie

$40 $33

Upgrades Neutral Outperform X

CMCSA Comcast

Macquarie

$49

Downgrades Outperform Neutral X

CMCSA Comcast

Macquarie

Downgrades Outperform Neutral X

CNI Canadian Nat’l Rail

Macquarie

Upgrades Neutral Outperform X

CNI Canadian Nat’l Rail

Macquarie

Upgrades Neutral Outperform X

CNQ Canadian Natrl Res

Macquarie

Downgrades Outperform Neutral X

CNQ Canadian Natrl Res

Macquarie

Upgrades Neutral Outperform X

CNTY Century Casinos

Macquarie

Downgrades Outperform Neutral X

CNTY Century Casinos

Macquarie

Upgrades Neutral Outperform X

COLM Columbia Sportswear

Macquarie

Initiated Outperform X

CORZ Core Scientific

Macquarie

$16

Downgrades Outperform Neutral X

CPG Crescent Point Energy

Macquarie

Initiated Outperform X

CPNG Coupang

Macquarie

$26

Downgrades Outperform Neutral X

CRI Carter Holdings

Macquarie

Initiated Neutral X

CRM Salesforce

Macquarie

$370

Resumed Outperform X

CRM Salesforce

Macquarie

$210

Reiterated Outperform X

CRSR Corsair Gaming

Macquarie

$33 $27

Upgrades Neutral Outperform X

CRTO Criteo

Macquarie

$40

Downgrades Outperform Neutral X

CRTO Criteo

Macquarie

Initiated Outperform X

CRWD CrowdStrike

Macquarie

$220

Initiated Outperform X

CRWD CrowdStrike

Macquarie

$75

Initiated Outperform X

CSCO Cisco Systems

Macquarie

Downgrades Neutral Underperform X

CTL CenturyLink

Macquarie

Downgrades Outperform Neutral X

CTRP Ctrip

Macquarie

Initiated Outperform X

CTVA Corteva

Macquarie

Upgrades Neutral Outperform X

CUK Carnival plc

Macquarie

Initiated Outperform X

CUK Carnival plc

Macquarie

Initiated Outperform X

CVA Covanta

Macquarie

Upgrades Underperform Neutral X

CVE Cenovus Energy

Macquarie

Downgrades Outperform Neutral X

CVX Chevron

Macquarie

Downgrades Outperform Neutral X

CWEN Clearway Energy

Macquarie

Downgrades Outperform Neutral X

D Dominion Energy

Macquarie

Initiated Outperform X

DAO Youdao

Macquarie

$38

Initiated Outperform X

DBX Dropbox

Macquarie

$34

Resumed Outperform X

DDI DoubleDown Interactive

Macquarie

Initiated Outperform X

DDI DoubleDown Interactive

Macquarie

$17

Initiated Outperform X

DDOG Datadog

Macquarie

$200

Initiated Neutral X

DDOG Datadog

Macquarie

$85

Upgrades Underperform Neutral X

DEO Diageo plc

Macquarie

Downgrades Outperform Neutral X

DIS Walt Disney

Macquarie

$125 $103

Upgrades Neutral Outperform X

DISCA Discovery

Macquarie

Upgrades Underperform Neutral X

DISCA Discovery

Macquarie

$52 $40

Downgrades Neutral Underperform X

DISH DISH Network

Macquarie

Initiated Outperform X

DOW Dow

Macquarie

$65

Initiated Outperform X

DRD DRDGOLD

Macquarie

Initiated Neutral X

DT Dynatrace

Macquarie

$38

Upgrades Neutral Outperform X

DV DoubleVerify

Macquarie

$40

Initiated Neutral X

DV DoubleVerify

Macquarie

$30

Upgrades Neutral Outperform X

ECA Encana

Macquarie

Downgrades Outperform Neutral X

ECA Encana

Macquarie

Downgrades Outperform Underperform X

EDU New Oriental Education & Technology

Macquarie

$44

Upgrades Neutral Outperform X

EDU New Oriental Education & Technology

Macquarie

Downgrades Outperform Neutral X

EDU New Oriental Education & Technology

Macquarie

Initiated Outperform X

ENB Enbridge

Macquarie

Initiated Outperform X

ENSG Ensign Group

Macquarie

$134

Downgrades Outperform Neutral X

EQNR Equinor

Macquarie

Upgrades Neutral Outperform X

EQNR Equinor

Macquarie

Initiated Neutral X

EQT EQT Corp.

Macquarie

Upgrades Neutral Outperform X

ERI Eldorado Resorts

Macquarie

Upgrades Neutral Outperform X

ES Eversource Energy

Macquarie

$73

Initiated Outperform X

ESNT Essent Group

Macquarie

Upgrades Neutral Outperform X

ETR Entergy

Macquarie

Downgrades Outperform Neutral X

EXPE Expedia

Macquarie

Reiterated Outperform X

FB Facebook

Macquarie

$190 $195

Downgrades Outperform Neutral X

FLL Full House Resorts

Macquarie

Upgrades Neutral Outperform X

FLR Fluor

Macquarie

Initiated Neutral X

FSCT ForeScout Technologies

Macquarie

$41

Upgrades Neutral Outperform X

FTI TechnipFMC

Macquarie

Resumed Outperform X

FUN Six Flags Entertainment

Macquarie

$64

Upgrades Neutral Outperform X

FUN Cedar Fair

Macquarie

Downgrades Outperform Neutral X

FUN Cedar Fair

Macquarie

Downgrades Outperform Neutral X

FXLV F45 Training Holdings

Macquarie

$17 $4

Initiated Outperform X

GAMB Gambling.com Group Ltd.

Macquarie

$13

Downgrades Outperform Neutral X

GAN GAN Limited

Macquarie

Initiated Outperform X

GENI Genius Sports

Macquarie

$11

Initiated Neutral X

GETY Getty Images

Macquarie

$8.25

Downgrades Outperform Neutral X

GG Goldcorp

Macquarie

Upgrades Neutral Outperform X

GOLD Barrick

Macquarie

Downgrades Outperform Neutral X

GOLD Randgold Resources

Macquarie

Initiated Outperform X

GRAB Grab

Macquarie

$4

Initiated Outperform X

GTLB GitLab

Macquarie

$90

Upgrades Neutral Outperform X

GWW Grainger

Macquarie

Upgrades Neutral Outperform X

H Hyatt Hotels

Macquarie

$110

Downgrades Outperform Neutral X

HA Hawaiian Holdings

Macquarie

$35 $29

Upgrades Neutral Outperform X

HA Hawaiian Holdings

Macquarie

$29 $35

Downgrades Outperform Neutral X

HA Hawaiian Holdings

Macquarie

Downgrades Neutral Underperform X

HBAN Huntington Banc

Macquarie

Initiated Neutral X

HBI Hanesbrands

Macquarie

$19

Upgrades Neutral Outperform X

HBM Hudbay Minerals

Macquarie

Initiated Neutral X

HCSG Healthcare Services Group

Macquarie

Downgrades Outperform Neutral X

HES Hess

Macquarie

Reiterated Outperform X

HES Hess

Macquarie

$63 $58

Upgrades Neutral Outperform X

HGV Hilton Grand Vacations

Macquarie

Downgrades Outperform Neutral X

HIMX Himax Tech

Macquarie

Downgrades Neutral Underperform X

HMY Harmony Gold

Macquarie

Downgrades Neutral Underperform X

HSBC HSBC Holdings

Macquarie

Initiated Outperform X

HTHT H World Group

Macquarie

$48

Initiated Outperform X

HUBS HubSpot

Macquarie

$355

Initiated Outperform X

IAC InterActiveCorp

Macquarie

Upgrades Neutral Outperform X

IAG IAMGOLD

Macquarie

Initiated Outperform X

IAS Integral Ad Science

Macquarie

$16

Upgrades Neutral Outperform X

IBP Installed Building Products

Macquarie

Upgrades Underperform Neutral X

IMO Imperial Oil

Macquarie

Downgrades Outperform Neutral X

IMPV Imperva

Macquarie

Upgrades Neutral Outperform X

INFO IHS Markit

Macquarie

Upgrades Underperform Neutral X

INFY Infosys

Macquarie

Downgrades Outperform Neutral X

INFY Infosys

Macquarie

Initiated Outperform X

INFY Infosys

Macquarie

Downgrades Outperform Neutral X

INSE Inspired Entertainment

Macquarie

Downgrades Outperform Neutral X

INST Instructure

Macquarie

Downgrades Outperform Neutral X

IPG Interpublic

Macquarie

Upgrades Neutral Outperform X

IPG Interpublic

Macquarie

Upgrades Underperform Neutral X

IPG Interpublic

Macquarie

Upgrades Underperform Neutral X

IQ iQIYI

Macquarie

$5.12

Initiated Underperform X

IQ iQIYI

Macquarie

$2.80

Initiated Neutral X

JAG Jagged Peak Energy

Macquarie

Upgrades Neutral Outperform X

JD JD.com

Macquarie

$26 $40

Resumed Outperform X

JD JD.com

Macquarie

$112

Downgrades Outperform Neutral X

JD JD.com

Macquarie

Upgrades Underperform Neutral X

JEC Jacobs

Macquarie

Downgrades Outperform Neutral X

JHG Janus Henderson Group

Macquarie

Downgrades Outperform Neutral X

JHG Janus Henderson Group

Macquarie

Upgrades Neutral Outperform X

JHX James Hardie

Macquarie

Initiated Neutral X

JNPR Juniper Networks

Macquarie

Downgrades Outperform Neutral X

JOBS 51job

Macquarie

Downgrades Outperform Neutral X

KBR KBR

Macquarie

Upgrades Neutral Outperform X

KDP Keurig Dr Pepper

Macquarie

Initiated Outperform X

KEM KEMET

Macquarie

Downgrades Outperform Neutral X

KEP Korea Electric Power Corp

Macquarie

Upgrades Neutral Outperform X

KMB Kimberly-Clark

Macquarie

Initiated Outperform X

KORS Michael Kors

Macquarie

$75

Initiated Outperform X

KOS Kosmos Energy

Macquarie

Upgrades Neutral Outperform X

KYO Kyocera Corp

Macquarie

Downgrades Outperform Neutral X

LBTYA Liberty Global

Macquarie

Reiterated Outperform X

LBTYA Liberty Global

Macquarie

$41 $45

Upgrades Neutral Outperform X

LI Li Auto

Macquarie

Downgrades Outperform Neutral X

LI Li Auto

Macquarie

$25 $33

Resumed Outperform X

LI Li Auto

Macquarie

$40

Initiated Outperform X

LI Li Auto

Macquarie

Upgrades Neutral Outperform X

LILA Liberty Latin America

Macquarie

$26

Upgrades Neutral Outperform X

LN LINE Corp

Macquarie

Upgrades Neutral Outperform X

LNW Light & Wonder

Macquarie

$69 $65

Downgrades Neutral Underperform X

LPL LG Display

Macquarie

Upgrades Underperform Outperform X

LU Lufax

Macquarie

Downgrades Neutral Underperform X

LU Lufax

Macquarie

$1.50

Downgrades Outperform Neutral X

LU Lufax

Macquarie

$5

Initiated Outperform X

LU Lufax

Macquarie

$16

Upgrades Underperform Neutral X

LULU lululemon athletica

Macquarie

Downgrades Outperform Neutral X

LUV Southwest Air

Macquarie

Initiated Outperform X

LYFT Lyft

Macquarie

Upgrades Neutral Outperform X

LYV Live Nation

Macquarie

$117 $105

Downgrades Outperform Neutral X

MAN Manpower

Macquarie

Initiated Outperform X

MARA Marathon Digital Holdings

Macquarie

$22

Downgrades Outperform Neutral X

MCRI Monarch Casino & Resort

Macquarie

$82 $81

Initiated Outperform X

MD Pediatrix Medical Group

Macquarie

Initiated Neutral X

MDB MongoDB

Macquarie

$300

Initiated Outperform X

MDB MongoDB

Macquarie

Reiterated Outperform X

MGM MGM Resorts

Macquarie

$60 $62

Initiated Outperform X

MLCO Melco Resorts & Entertainment

Macquarie

$16.30

Downgrades Outperform Neutral X

MLCO Melco Resorts & Entertainment

Macquarie

$20

Initiated Outperform X

MLCO Melco Resorts & Entertainment

Macquarie

Downgrades Outperform Neutral X

MMYT MakeMyTrip

Macquarie

$50 $60

Initiated Outperform X

MMYT MakeMyTrip

Macquarie

$42

Downgrades Outperform Neutral X

MNST Monster Beverage

Macquarie

$68 $53

Initiated Outperform X

MPC Marathon Petroleum

Macquarie

Upgrades Neutral Outperform X

MRVL Marvell

Macquarie

$24

Upgrades Neutral Outperform X

MSFT Microsoft

Macquarie

$260 $325

Initiated Neutral X

MSFT Microsoft

Macquarie

$234

Upgrades Neutral Outperform X

MSFT Microsoft

Macquarie

Upgrades Neutral Outperform X

MSG Madison Square Garden

Macquarie

Initiated Outperform X

MSGE Madison Square Garden Entertainment

Macquarie

$43

Upgrades Neutral Outperform X

MSGN MSG Networks

Macquarie

$20

Reiterated Outperform X

MTCH Match Group

Macquarie

$74 $92

Initiated Outperform X

MTCH Match Group

Macquarie

Initiated Outperform X

MTG MGIC Investment

Macquarie

Downgrades Outperform Neutral X

MTN Vail Resorts

Macquarie

Upgrades Neutral Outperform X

MTN Vail Resorts

Macquarie

Downgrades Outperform Neutral X

MTN Vail Resorts

Macquarie

Reiterated Outperform X

MU Micron

Macquarie

$80 $70

Downgrades Outperform Neutral X

MXIM Maxim Integrated

Macquarie

Initiated Outperform X

MYPS PLAYSTUDIOS

Macquarie

$6

Upgrades Neutral Outperform X

NCLH Norwegian Cruise Line

Macquarie

Upgrades Neutral Outperform X

NCLH Norwegian Cruise Line

Macquarie

$65

Upgrades Underperform Neutral X

NCLH Norwegian Cruise Line

Macquarie

Upgrades Underperform Neutral X

NCLH Norwegian Cruise Line

Macquarie

Resumed Outperform X

NCNO nCino

Macquarie

$42

Initiated Outperform X

NEM Newmont Goldcorp

Macquarie

$45

Upgrades Neutral Outperform X

NEP NextEra Energy Partners

Macquarie

Initiated Neutral X

NET Cloudflare

Macquarie

$60

Upgrades Neutral Outperform X

NFLX Netflix

Macquarie

$410 $595

Upgrades Underperform Neutral X

NFLX Netflix

Macquarie

$170 $230

Reiterated Underperform X

NFLX Netflix

Macquarie

$150 $170

Downgrades Neutral Underperform X

NFLX Netflix

Macquarie

$615 $395

Initiated Outperform X

NGG National Grid

Macquarie

Downgrades Outperform Neutral X

NIO NIO

Macquarie

$6.60 $4.80

Upgrades Neutral Outperform X

NIO NIO

Macquarie

$6.60

Resumed Neutral X

NIO NIO

Macquarie

$5

Initiated Outperform X

NIO NIO

Macquarie

$37.70

Upgrades Neutral Outperform X

NLSN Nielsen

Macquarie

Resumed Outperform X

NOW ServiceNow

Macquarie

$500

Resumed Outperform X

NTES NetEase

Macquarie

$126

Initiated Outperform X

NTES NetEase

Macquarie

$129

Upgrades Neutral Outperform X

NTES Netease

Macquarie

Upgrades Neutral Outperform X

NUE Nucor

Macquarie

Upgrades Neutral Outperform X

NWSA News Corp.

Macquarie

Downgrades Outperform Neutral X

NWSA News Corp.

Macquarie

$21.10

Initiated Neutral X

OKTA Okta

Macquarie

$60

Reiterated Outperform X

OMC Omnicom

Macquarie

$100 $110

Upgrades Neutral Outperform X

OMC Omnicom

Macquarie

Reiterated Neutral X

OMC Omnicom

Macquarie

$95 $100

Downgrades Outperform Neutral X

OMC Omnicom

Macquarie

Upgrades Neutral Outperform X

OMC Omnicom

Macquarie

Upgrades Underperform Neutral X

OMC Omnicom

Macquarie

Downgrades Outperform Neutral X

ORCL Oracle

Macquarie

$56 $55

Initiated Neutral X

PANW Palo Alto Networks

Macquarie

$185

Downgrades Neutral Underperform X

PARA Paramount Global

Macquarie

$15

Downgrades Outperform Neutral X

PATH UiPath

Macquarie

$29 $12

Upgrades Neutral Outperform X

PBF PBF Energy

Macquarie

Upgrades Neutral Outperform X

PCAR PACCAR

Macquarie

Initiated Neutral X

PCOR Procore Technologies

Macquarie

$70

Downgrades Outperform Neutral X

PDCE PDC Energy

Macquarie

Upgrades Neutral Outperform X

PDD Pinduoduo

Macquarie

$126 $224

Resumed Outperform X

PDD Pinduoduo

Macquarie

$95

Downgrades Outperform Neutral X

PDD Pinduoduo

Macquarie

$171 $157

Initiated Outperform X

PDD Pinduoduo

Macquarie

Upgrades Neutral Outperform X

PE Parsley Energy

Macquarie

Downgrades Outperform Neutral X

PEGA Pegasystems

Macquarie

$54

Initiated Outperform X

PEGA Pegasystems

Macquarie

Downgrades Neutral Underperform X

PEGI Pattern Energy

Macquarie

Upgrades Neutral Outperform X

PENN Penn Natl Gaming

Macquarie

$80 $71

Upgrades Neutral Outperform X

PEP PepsiCo

Macquarie

$126

Downgrades Outperform Neutral X

PEP PepsiCo

Macquarie

Reiterated Outperform X

PEP PepsiCo

Macquarie

$120 $122

Upgrades Neutral Outperform X

PKX POSCO

Macquarie

Initiated Outperform X

PLAN Anaplan

Macquarie

$65

Upgrades Underperform Neutral X

PLL Piedmont Lithium

Macquarie

$13.50

Downgrades Neutral Underperform X

PLL Piedmont Lithium

Macquarie

$7.80

Downgrades Outperform Neutral X

PLL Piedmont Lithium

Macquarie

$9.30

Initiated Outperform X

PLL Piedmont Lithium

Macquarie

$140

Downgrades Outperform Neutral X

PLNT Planet Fitness

Macquarie

$91 $99

Upgrades Neutral Outperform X

PLNT Planet Fitness

Macquarie

$64 $85

Downgrades Outperform Neutral X

PLNT Planet Fitness

Macquarie

Downgrades Outperform Neutral X

PLTK Playtika

Macquarie

Initiated Outperform X

PLTK Playtika

Macquarie

$34

Upgrades Neutral Outperform X

PNC PNC

Macquarie

Downgrades Outperform Neutral X

PNC PNC

Macquarie

Initiated Outperform X

PRVA Privia Health

Macquarie

Downgrades Outperform Neutral X

PTON Peloton

Macquarie

$7

Reiterated Outperform X

PTON Peloton

Macquarie

$85 $60

Upgrades Neutral Outperform X

PTR PetroChina

Macquarie

Downgrades Outperform Neutral X

PTR PetroChina

Macquarie

Upgrades Neutral Outperform X

PTR PetroChina

Macquarie

Downgrades Outperform Neutral X

PUBM PubMatic

Macquarie

$23 $16

Initiated Neutral X

PUMP ProPetro

Macquarie

$17

Downgrades Outperform Neutral X

PWSC PowerSchool

Macquarie

$22.80

Upgrades Neutral Outperform X

PXD Pioneer Natural Resources

Macquarie

Reiterated Outperform X

PYPL PayPal

Macquarie

$95 $115

Upgrades Neutral Outperform X

QCOM Qualcomm

Macquarie

Downgrades Outperform Neutral X

QD Qudian

Macquarie

Initiated Outperform X

RAMP LiveRamp

Macquarie

$60

Initiated Outperform X

RBLX Roblox

Macquarie

$46

Downgrades Outperform Neutral X

RBS Royal Bank of Scotland

Macquarie

Upgrades Neutral Outperform X

RBS Royal Bank of Scotland

Macquarie

Downgrades Outperform Neutral X

RCI Rogers Comms

Macquarie

Upgrades Neutral Outperform X

RCL Royal Caribbean

Macquarie

Initiated Neutral X

RDFN Redfin

Macquarie

$20

Initiated Outperform X

RDI Reading Intl

Macquarie

$20

Initiated Neutral X

RDN Radian Group

Macquarie

Upgrades Neutral Outperform X

RDY Dr. Reddy’s

Macquarie

Downgrades Neutral Underperform X

RF Regions Fincl

Macquarie

Downgrades Outperform Neutral X

RIO Rio Tinto

Macquarie

Initiated Outperform X

RIOT Riot Platforms

Macquarie

$15

Reiterated Outperform X

ROKU Roku

Macquarie

$400 $485

Reiterated Neutral X

ROKU Roku

Macquarie

$66 $110

Downgrades Outperform Neutral X

ROKU Roku

Macquarie

$67 $57

Initiated Outperform X

ROKU Roku

Macquarie

$49

Initiated Neutral X

ROL Rollins

Macquarie

Upgrades Neutral Outperform X

RPD Rapid7

Macquarie

Upgrades Neutral Outperform X

RRR Red Rock Resorts

Macquarie

Downgrades Outperform Neutral X

RRR Red Rock Resorts

Macquarie

$60 $55

Upgrades Neutral Outperform X

RRR Red Rock Resorts

Macquarie

$29

Downgrades Outperform Neutral X

RRR Red Rock Resorts

Macquarie

Upgrades Neutral Outperform X

RY Royal Bank of Canada

Macquarie

Initiated Underperform X

RYAAY Ryanair Hldgs

Macquarie

Upgrades Underperform Neutral X

S Sprint

Macquarie

Upgrades Neutral Outperform X

SAM Boston Beer Co

Macquarie

$460

Upgrades Underperform Neutral X

SAM Boston Beer Co

Macquarie

$275

Downgrades Neutral Underperform X

SAM Boston Beer Co

Macquarie

Upgrades Underperform Neutral X

SAM Boston Beer Co

Macquarie

Downgrades Outperform Neutral X

SAVE Spirit Airlines

Macquarie

$71 $47

Upgrades Neutral Outperform X

SAVE Spirit Airlines

Macquarie

Downgrades Neutral Underperform X

SBGL Sibanye-Stillwater

Macquarie

Initiated Underperform X

SCCO Southern Copper

Macquarie

Initiated Outperform X

SCR Score Media and Gaming

Macquarie

$44

Upgrades Neutral Outperform X

SE Sea Limited

Macquarie

$124 $280

Upgrades Neutral Outperform X

SEAS SeaWorld Entertainment

Macquarie

Upgrades Underperform Neutral X

SEAS SeaWorld Entertainment

Macquarie

Downgrades Neutral Underperform X

SEAS SeaWorld Entertainment

Macquarie

Initiated Outperform X

SGRY Surgery Partners

Macquarie

$31

Initiated Outperform X

SHOO Steven Madden

Macquarie

Reiterated Outperform X

SHOP Shopify

Macquarie

$155 $150

Downgrades Outperform Neutral X

SINA SINA

Macquarie

Upgrades Underperform Neutral X

SIX Six Flags

Macquarie

Initiated Outperform X

SKM SK Telecom

Macquarie

Downgrades Outperform Neutral X

SKM SK Telecom

Macquarie

Downgrades Outperform Neutral X

SM SM Energy

Macquarie

Downgrades Outperform Neutral X

SNE Sony

Macquarie

Upgrades Neutral Outperform X

SNE Sony

Macquarie

Downgrades Outperform Neutral X

SNE Sony

Macquarie

Upgrades Neutral Outperform X

SNOW Snowflake

Macquarie

Initiated Neutral X

SNOW Snowflake

Macquarie

$173

Upgrades Neutral Outperform X

SNP China Petroleum (Sinopec)

Macquarie

Downgrades Outperform Neutral X

SONY Sony

Macquarie

Upgrades Neutral Outperform X

SONY Sony

Macquarie

Downgrades Outperform Neutral X

SPHR Sphere Entertainment Co.

Macquarie

$25

Initiated Outperform X

SPOT Spotify

Macquarie

$225

Upgrades Neutral Outperform X

SQ Block

Macquarie

$100

Downgrades Outperform Neutral X

SQ Block

Macquarie

$140 $64

Initiated Outperform X

SQ Square

Macquarie

$94

Downgrades Outperform Neutral X

SSL Sasol

Macquarie

Downgrades Outperform Neutral X

STAY Extended Stay America

Macquarie

$19.50

Downgrades Outperform Neutral X

STZ Constellation Brands

Macquarie

Upgrades Neutral Outperform X

SU Suncor Energy

Macquarie

Downgrades Outperform Neutral X

SU Suncor Energy

Macquarie

Upgrades Neutral Outperform X

SU Suncor Energy

Macquarie

Downgrades Neutral Underperform X

SWIR Sierra Wireless

Macquarie

Downgrades Outperform Neutral X

SWKS Skyworks

Macquarie

Downgrades Outperform Neutral X

SYMC Symantec

Macquarie

Downgrades Outperform Neutral X

TAL TAL Education

Macquarie

Upgrades Neutral Outperform X

TCOM Trip.com Group

Macquarie

Initiated Neutral X

TEAM Atlassian

Macquarie

$290

Downgrades Outperform Neutral X

TEAM Atlassian

Macquarie

$287 $147

Initiated Outperform X

TEAM Atlassian

Macquarie

Initiated Neutral X

TECK Teck Resources

Macquarie

Upgrades Neutral Outperform X

TECK Teck Resources

Macquarie

Downgrades Outperform Neutral X

TECK Teck Resources

Macquarie

Downgrades Outperform Neutral X

TEF Telefonica S.A.

Macquarie

Initiated Outperform X

TEL TE Connectivity

Macquarie

Initiated Neutral X

TENB Tenable

Macquarie

$35

Downgrades Outperform Neutral X

TM Toyota Motor

Macquarie

Upgrades Underperform Neutral X

TME Tencent Music

Macquarie

$5.10 $7.40

Initiated Outperform X

TME Tencent Music

Macquarie

Initiated Neutral X

TPR Tapestry

Macquarie

$49

Downgrades Outperform Neutral X

TRI Thomson Reuters

Macquarie

Upgrades Underperform Outperform X

TRIP TripAdvisor

Macquarie

Initiated Neutral X

TRP TransCanada

Macquarie

Upgrades Neutral Outperform X

TRQ Turquoise Hill Resources

Macquarie

Downgrades Outperform Neutral X

TRQ Turquiose Hill Resources

Macquarie

Upgrades Neutral Outperform X

TRQ Turquiose Hill Resources

Macquarie

Upgrades Neutral Outperform X

TRQ Turquiose Hill Resources

Macquarie

Initiated Outperform X

TSLA Tesla

Macquarie

Initiated Outperform X

TTMI TTM Tech

Macquarie

Downgrades Outperform Neutral X

TWLO Twilio

Macquarie

$96

Reiterated Outperform X

TWLO Twilio

Macquarie

$281 $306

Initiated Outperform X

TWLO Twilio

Macquarie

Downgrades Outperform Neutral X

TWOU 2U

Macquarie

$11

Upgrades Neutral Outperform X

TWOU 2U

Macquarie

Downgrades Outperform Neutral X

TWOU 2U

Macquarie

Downgrades Outperform Neutral X

TWTR Twitter

Macquarie

Upgrades Neutral Outperform X

TWTR Twitter

Macquarie

Resumed Neutral X

U Unity Software

Macquarie

$16 $24

Downgrades Neutral Underperform X

U Unity Software

Macquarie

Downgrades Outperform Neutral X

U Unity Software

Macquarie

$20

Downgrades Outperform Neutral X

UAL United Continental

Macquarie

Upgrades Neutral Outperform X

UAL United Continental

Macquarie

Initiated Outperform X

UBER Uber

Macquarie

Downgrades Outperform Neutral X

USB U.S. Bancorp

Macquarie

$59

Upgrades Neutral Outperform X

USB U.S. Bancorp

Macquarie

Downgrades Outperform Neutral X

VAC Marriot Vacations

Macquarie

Downgrades Outperform Neutral X

VALE Vale S.A.

Macquarie

Upgrades Neutral Outperform X

VALE Vale S.A.

Macquarie

Downgrades Outperform Neutral X

VALE Vale S.A.

Macquarie

Upgrades Neutral Outperform X

VALE Vale S.A.

Macquarie

Downgrades Outperform Neutral X

VALE Vale S.A.

Macquarie

Upgrades Neutral Outperform X

VIAB Viacom

Macquarie

Upgrades Underperform Neutral X

VIAB Viacom

Macquarie

Upgrades Underperform Neutral X

VIAC ViacomCBS

Macquarie

$78 $47

Downgrades Outperform Neutral X

VIPS Vipshop

Macquarie

Upgrades Neutral Outperform X

VIPS Vipshop

Macquarie

Upgrades Neutral Outperform X

VLO Valero Energy

Macquarie

Resumed Outperform X

VMW VMware

Macquarie

$157

Initiated Outperform X

VMW VMware

Macquarie

$157

Upgrades Neutral Outperform X

VOD Vodafone PLC

Macquarie

Initiated Outperform X

VST Vistra Energy

Macquarie

Downgrades Outperform Neutral X

WBD Warner Bros. Discovery

Macquarie

$9

Downgrades Outperform Neutral X

WBK Westpac Banking

Macquarie

Initiated Neutral X

WDAY Workday

Macquarie

$170

Upgrades Underperform Neutral X

WDAY Workday

Macquarie

Downgrades Outperform Neutral X

WFC Wells Fargo

Macquarie

$54 $47

Upgrades Neutral Outperform X

WFC Wells Fargo

Macquarie

Upgrades Underperform Outperform X

WFC Wells Fargo

Macquarie

Upgrades Neutral Outperform X

WIT Wipro

Macquarie

Initiated Neutral X

WIT Wipro

Macquarie

Upgrades Neutral Outperform X

WIT Wipro

Macquarie

Initiated Neutral X

WIX Wix.com

Macquarie

Upgrades Neutral Outperform X

WPP WPP plc

Macquarie

Upgrades Underperform Neutral X

WYND Wyndham Destinations

Macquarie

Upgrades Neutral Outperform X

WYNN Wynn Resorts

Macquarie

Reiterated Neutral X

WYNN Wynn Resorts

Macquarie

$116 $121

Downgrades Outperform Neutral X

XOG Extraction Oil & Gas

Macquarie

Upgrades Underperform Outperform X

XOM Exxon Mobil

Macquarie

$83

Downgrades Outperform Neutral X

XPEV XPeng

Macquarie

$18

Upgrades Neutral Outperform X

XPEV XPeng

Macquarie

Resumed Neutral X

XPEV XPeng

Macquarie

$7

Upgrades Underperform Outperform X

XPEV XPeng

Macquarie

Downgrades Outperform Neutral X

XPEV XPeng

Macquarie

$25

Initiated Outperform X

XPEV XPeng

Macquarie

$38.20

Initiated Outperform X

XPEV XPeng

Macquarie

Downgrades Outperform Neutral X

YRD Yirendai

Macquarie

Upgrades Underperform Outperform X

YUMC Yum China

Macquarie

Upgrades Neutral Outperform X

ZG Zillow

Macquarie

Initiated Outperform X

ZLAB Zai Lab

Macquarie

$64

Initiated Outperform X

ZLAB Zai Lab

Macquarie

Upgrades Neutral Outperform X

ZNGA Zynga

Macquarie

Upgrades Neutral Outperform X

ZS Zscaler

Macquarie

$166 $231

Initiated Neutral X

ZS Zscaler

Macquarie

$155

Downgrades Outperform Neutral X

ZTO ZTO Express

Macquarie

Upgrades Neutral Outperform X

ZTO ZTO Express

Macquarie

$40.20

Resumed Neutral X

ZTO ZTO Express

Macquarie

$31.40