Initiated Sector Outperform X

ABSI Absci Corporation

Scotiabank

$13

Initiated Sector Outperform X

ACLX Arcellx

Scotiabank

$66

Initiated Sector Outperform X

ADAP Adaptimmune Therapeutics

Scotiabank

$3.15

Initiated Sector Outperform X

ADPT Adaptive Biotechnologies

Scotiabank

$15

Initiated Sector Outperform X

ADSK Autodesk

Scotiabank

$360

Downgrades Sec Outperform Sec Perform X

AEP American Electric

Scotiabank

$105 $102

Resumed Sector Outperform X

AGI Alamos

Scotiabank

$14.50

Initiated Sector Outperform X

AGIO Agios Pharma

Scotiabank

Initiated Sector Perform X

AHH Armada Hoffler Properties

Scotiabank

$11

Initiated Sector Outperform X

AKAM Akamai Tech

Scotiabank

$110

Downgrades Sec Outperform Sec Perform X

ALB Albemarle

Scotiabank

$150 $135

Upgrades Sec Perform Sec Outperform X

ALB Albemarle

Scotiabank

$250

Initiated Sector Outperform X

ALNY Alnylam Pharma

Scotiabank

Downgrades Sec Outperform Sec Perform X

ALTM Arcadium Lithium

Scotiabank

$5.85

Downgrades Sec Outperform Sec Perform X

AMH American Homes 4 Rent

Scotiabank

$38

Initiated Sector Outperform X

AMH American Homes 4 Rent

Scotiabank

$36

Downgrades Sec Outperform Sec Perform X

AMPL Amplitude

Scotiabank

$12

Initiated Sector Outperform X

AMPL Amplitude

Scotiabank

$25

Initiated Sector Outperform X

AMZN Amazon

Scotiabank

$245

Upgrades Sec Perform Sec Outperform X

APA APA Corp.

Scotiabank

$36

Initiated Sector Outperform X

APLS Apellis Pharmaceuticals

Scotiabank

Initiated Sector Perform X

APPN Appian

Scotiabank

$37

Upgrades Sec Perform Sec Outperform X

AR Antero Resources

Scotiabank

$44

Resumed Sector Perform X

AR Antero Resources

Scotiabank

$47

Upgrades Sec Perform Sec Outperform X

ARGX argenx

Scotiabank

$715

Initiated Sector Perform X

ARGX argenx

Scotiabank

$516

Initiated Sector Outperform X

ARRY Array Tech

Scotiabank

$26

Initiated Sector Perform X

ASAN Asana

Scotiabank

$15

Upgrades Sec Perform Sec Outperform X

ASR Grupo Aeroportuario Del Sureste

Scotiabank

Upgrades Sec Underperform Sec Perform X

AU AngloGold Ashanti

Scotiabank

Downgrades Sec Perform Sec Underperform X

AU AngloGold Ashanti

Scotiabank

$27 $30

Initiated Sector Outperform X

AURA Aura Biosciences

Scotiabank

Downgrades Sec Outperform Sec Perform X

AVAL Grupo Aval

Scotiabank

$6.20

Downgrades Sec Outperform Sec Perform X

BAK Braskem SA

Scotiabank

Upgrades Sec Perform Sec Outperform X

BAK Braskem SA

Scotiabank

$16.75

Upgrades Sec Underperform Sec Perform X

BAK Braskem SA

Scotiabank

Downgrades Sec Perform Sec Underperform X

BAK Braskem SA

Scotiabank

Upgrades Sec Perform Sec Outperform X

BAP Credicorp LTD

Scotiabank

$207

Downgrades Sec Outperform Sec Perform X

BAP Credicorp LTD

Scotiabank

$150

Downgrades Sec Perform Sec Underperform X

BB BlackBerry

Scotiabank

Upgrades Sec Perform Sec Outperform X

BBD Banco Bradesco

Scotiabank

Initiated Sector Outperform X

BBIO BridgeBio Pharma

Scotiabank

Downgrades Sec Outperform Sec Perform X

BCE BCE Inc

Scotiabank

Downgrades Sec Outperform Sec Perform X

BCH Banco de Chile

Scotiabank

Upgrades Sec Perform Sec Outperform X

BEAM Beam Therapeutics

Scotiabank

$40

Initiated Sector Outperform X

BEAM Beam Therapeutics

Scotiabank

Upgrades Sec Perform Sec Outperform X

BEP Brookfield Renewable Partners

Scotiabank

Initiated Sector Outperform X

BIIB Biogen

Scotiabank

$327

Downgrades Sec Outperform Sec Perform X

BKH Black Hills Corp

Scotiabank

$67

Initiated Sector Perform X

BLDP Ballard Power

Scotiabank

$7.25

Initiated Sector Outperform X

BMEA Biomea Fusion

Scotiabank

$41

Upgrades Sec Perform Sec Outperform X

BMO Bank of Montreal

Scotiabank

Downgrades Sec Outperform Sec Perform X

BMO Bank of Montreal

Scotiabank

Upgrades Sec Perform Sec Outperform X

BMO Bank of Montreal

Scotiabank

Initiated Sector Perform X

BMRN BioMarin Pharmaceutical

Scotiabank

$95

Initiated Sector Outperform X

BNGO Bionano Genomics

Scotiabank

$4

Downgrades Sec Outperform Sec Perform X

BP BP

Scotiabank

Upgrades Sec Perform Sec Outperform X

BP BP

Scotiabank

$37 $42

Upgrades Sec Perform Sec Outperform X

BP BP

Scotiabank

$28

Initiated Sector Outperform X

BPMC Blueprint Medicines

Scotiabank

$150

Downgrades Sec Outperform Sec Perform X

BPY Brookfield Property Partners

Scotiabank

Upgrades Sec Perform Sec Outperform X

BRX Brixmor Property

Scotiabank

$25

Upgrades Sec Perform Sec Outperform X

BRZE Braze

Scotiabank

$56

Initiated Sector Perform X

BRZE Braze

Scotiabank

$34

Upgrades Sec Perform Sec Outperform X

BSAC Banco Santander Chile

Scotiabank

Upgrades Sec Underperform Sec Perform X

BVN Buenaventura SA

Scotiabank

Downgrades Sec Outperform Sec Perform X

BXP BXP, Inc.

Scotiabank

Upgrades Sec Perform Sec Outperform X

BXP Boston Properties

Scotiabank

$102 $94

Downgrades Sec Outperform Sec Perform X

CAE CAE

Scotiabank

Downgrades Sec Outperform Sec Perform X

CEQP Crestwood Equity Partners

Scotiabank

$29 $27

Initiated Sector Outperform X

CEQP Crestwood Equity Partners

Scotiabank

$31

Downgrades Sec Outperform Sec Perform X

CF CF Industries

Scotiabank

Upgrades Sec Perform Sec Outperform X

CF CF Industries

Scotiabank

$95

Downgrades Sec Outperform Sec Perform X

CF CF Industries

Scotiabank

$118 $100

Downgrades Sec Outperform Sec Perform X

CF CF Industries

Scotiabank

$81 $118

Downgrades Sec Outperform Sec Perform X

CFLT Confluent

Scotiabank

$21

Initiated Sector Outperform X

CFLT Confluent

Scotiabank

$27

Downgrades Sec Outperform Sec Perform X

CGAU Centerra Gold

Scotiabank

$12 $7

Resumed Sector Perform X

CHK Chesapeake Energy

Scotiabank

$111

Initiated Sector Outperform X

CHKP Check Point Software

Scotiabank

$160

Initiated Sector Perform X

CIG Cemig

Scotiabank

Resumed Sector Perform X

CIGI Colliers

Scotiabank

$165 $120

Initiated Sector Outperform X

CLNE Clean Energy Fuels

Scotiabank

Downgrades Sec Outperform Sec Perform X

CLR Continental Resources

Scotiabank

Upgrades Sec Perform Sec Outperform X

CLR Continental Resources

Scotiabank

$58

Upgrades Sec Perform Sec Outperform X

CM CIBC

Scotiabank

Downgrades Sec Outperform Sec Perform X

CMCSA Comcast

Scotiabank

$44.50

Downgrades Sec Outperform Sec Perform X

CMCSA Comcast

Scotiabank

$50 $49

Downgrades Sec Outperform Sec Perform X

CNI Canadian Nat’l Rail

Scotiabank

Downgrades Sec Outperform Sec Perform X

CNI Canadian Nat’l Rail

Scotiabank

Initiated Sector Perform X

CNP CenterPoint

Scotiabank

Downgrades Sec Outperform Sec Perform X

CNQ Canadian Natrl Res

Scotiabank

Resumed Sector Perform X

CNX CNX Resources

Scotiabank

$25

Initiated Sector Outperform X

CNXC Concentrix

Scotiabank

$120

Initiated Sector Outperform X

COGT Cogent Biosciences

Scotiabank

$17

Upgrades Sec Perform Sec Outperform X

COLD Americold Realty Trust

Scotiabank

$27 $30

Initiated Sector Perform X

COLD Americold Realty Trust

Scotiabank

$27

Downgrades Sec Outperform Sec Perform X

COP ConocoPhillips

Scotiabank

$145 $140

Upgrades Sec Perform Sec Outperform X

COP ConocoPhillips

Scotiabank

$56

Initiated Sector Perform X

COUR Coursera

Scotiabank

$9

Upgrades Sec Perform Sec Outperform X

CP Canadian Pacific Kansas City Ltd.

Scotiabank

Downgrades Sec Outperform Sec Perform X

CP Canadian Pacific

Scotiabank

Upgrades Sec Perform Sec Outperform X

CP Canadian Pacific

Scotiabank

Downgrades Sec Outperform Sec Perform X

CP Canadian Pacific

Scotiabank

Downgrades Sec Outperform Sec Perform X

CP Canadian Pacific

Scotiabank

Upgrades Sec Perform Sec Outperform X

CPG Crescent Point Energy

Scotiabank

Upgrades Sec Perform Sec Outperform X

CPG Crescent Point Energy

Scotiabank

Downgrades Sec Outperform Sec Perform X

CPT Camden Property

Scotiabank

Initiated Sector Outperform X

CRM Salesforce

Scotiabank

$425

Downgrades Sec Outperform Sec Perform X

CRWD CrowdStrike

Scotiabank

$393 $300

Initiated Sector Outperform X

CSTL Castle Biosciences

Scotiabank

$54

Downgrades Sec Outperform Sec Perform X

CUBE CubeSmart

Scotiabank

$46

Initiated Sector Outperform X

CUBE CubeSmart

Scotiabank

$53

Upgrades Sec Perform Sec Outperform X

CVE Cenovus Energy

Scotiabank

Downgrades Sec Outperform Sec Perform X

CVE Cenovus Energy

Scotiabank

Downgrades Sec Perform Sec Underperform X

CVI CVR Energy

Scotiabank

Downgrades Sec Perform Sec Underperform X

CVI CVR Energy

Scotiabank

$13

Upgrades Sec Perform Sec Outperform X

CVX Chevron

Scotiabank

$195

Downgrades Sec Outperform Sec Perform X

CVX Chevron

Scotiabank

Upgrades Sec Perform Sec Outperform X

CVX Chevron

Scotiabank

$195 $200

Downgrades Sec Outperform Sec Perform X

CVX Chevron

Scotiabank

$115

Upgrades Sec Perform Sec Outperform X

CVX Chevron

Scotiabank

$95 $110

Initiated Sector Perform X

CXM Sprinklr

Scotiabank

$7.70

Initiated Sector Outperform X

CYBR CyberArk

Scotiabank

$340

Downgrades Sec Outperform Sec Perform X

D Dominion Energy

Scotiabank

$56 $46

Upgrades Sec Perform Sec Outperform X

D Dominion Energy

Scotiabank

$88 $92

Initiated Sector Outperform X

DAR Darling Ingredients

Scotiabank

Initiated Sector Outperform X

DDOG Datadog

Scotiabank

$138

Upgrades Sec Perform Sec Outperform X

DEI Douglas Emmett

Scotiabank

$16 $21

Initiated Sector Perform X

DHR Danaher

Scotiabank

Upgrades Sec Underperform Sec Perform X

DK Delek US Holdings

Scotiabank

$35

Upgrades Sec Perform Sec Outperform X

DLR Digital Realty Trust

Scotiabank

$208

Downgrades Sec Outperform Sec Perform X

DLR Digital Realty Trust

Scotiabank

$157

Upgrades Sec Perform Sec Outperform X

DLR Digital Realty Trust

Scotiabank

$132 $157

Downgrades Sec Outperform Sec Perform X

DOOO BRP Inc.

Scotiabank

Initiated Sector Outperform X

DOOO BRP Inc.

Scotiabank

Initiated Sector Outperform X

DSP Viant Technology

Scotiabank

$27

Initiated Sector Outperform X

DT Dynatrace

Scotiabank

$62

Initiated Sector Outperform X

DUOL Duolingo

Scotiabank

$425

Initiated Sector Outperform X

DV DoubleVerify

Scotiabank

$24

Initiated Sector Outperform X

DYN Dyne Therapeutics

Scotiabank

$50

Upgrades Sec Underperform Sec Perform X

ED Con Edison

Scotiabank

$90 $100

Downgrades Sec Outperform Sec Perform X

EMN Eastman Chemical

Scotiabank

$100 $90

Upgrades Sec Perform Sec Outperform X

EMN Eastman Chemical

Scotiabank

Downgrades Sec Outperform Sec Perform X

ENIC Enel Chile

Scotiabank

Downgrades Sec Outperform Sec Perform X

ENPH Enphase Energy

Scotiabank

$140

Initiated Sector Outperform X

ENPH Enphase Energy

Scotiabank

Downgrades Sec Outperform Sec Perform X

EOG EOG Resources

Scotiabank

$155

Upgrades Sec Perform Sec Outperform X

EOG EOG Resources

Scotiabank

$150 $145

Downgrades Sec Outperform Sec Perform X

EOG EOG Resources

Scotiabank

$95

Upgrades Sec Perform Sec Outperform X

EOG EOG Resources

Scotiabank

$72 $86

Upgrades Sec Perform Sec Outperform X

EPAM EPAM Systems

Scotiabank

$245 $275

Downgrades Sec Outperform Sec Perform X

EPAM EPAM Systems

Scotiabank

$245

Upgrades Sec Perform Sec Outperform X

EPAM EPAM Systems

Scotiabank

$265 $350

Initiated Sector Perform X

EPAM EPAM Systems

Scotiabank

$265

Initiated Sector Perform X

EPD Enterprise Products

Scotiabank

$33

Initiated Sector Outperform X

EPD Enterprise Products

Scotiabank

Upgrades Sec Underperform Sec Perform X

EQR Equity Residential

Scotiabank

Downgrades Sec Outperform Sec Perform X

EQT EQT Corp.

Scotiabank

$54

Upgrades Sec Perform Sec Outperform X

EQT EQT Corp.

Scotiabank

$52

Resumed Sector Outperform X

EQT EQT Corp.

Scotiabank

$54

Downgrades Sec Outperform Sec Perform X

ERF Enerplus

Scotiabank

Upgrades Sec Perform Sec Outperform X

ERF Enerplus

Scotiabank

Downgrades Sec Outperform Sec Perform X

ERF Enerplus

Scotiabank

Upgrades Sec Perform Sec Outperform X

ERO Ero Copper

Scotiabank

Downgrades Sec Outperform Sec Perform X

ERO Ero Copper

Scotiabank

Downgrades Sec Perform Sec Underperform X

ES Eversource Energy

Scotiabank

$66 $56

Downgrades Sec Outperform Sec Perform X

ES Eversource Energy

Scotiabank

$60

Upgrades Sec Perform Sec Outperform X

ES Eversource Energy

Scotiabank

$91

Upgrades Sec Underperform Sec Perform X

ES Eversource Energy

Scotiabank

$87

Upgrades Sec Underperform Sec Outperform X

ESS Essex Property

Scotiabank

$240

Downgrades Sec Perform Sec Underperform X

ESS Essex Property

Scotiabank

$363 $338

Initiated Sector Outperform X

ESTC Elastic

Scotiabank

$185

Initiated Sector Outperform X

EWTX Edgewise Therapeutics

Scotiabank

$50

Initiated Sector Outperform X

EXAS Exact Sciences

Scotiabank

$70

Downgrades Sec Outperform Sec Perform X

EXC Exelon

Scotiabank

$55 $44

Upgrades Sec Underperform Sec Perform X

EXR Extra Space Storage

Scotiabank

$167

Initiated Sector Underperform X

EXR Extra Space Storage

Scotiabank

$131

Initiated Sector Outperform X

EYPT EyePoint Pharmaceuticals

Scotiabank

Upgrades Sec Perform Sec Outperform X

FANG Diamondback Energy

Scotiabank

Downgrades Sec Outperform Sec Perform X

FANG Diamondback Energy

Scotiabank

$125

Upgrades Sec Perform Sec Outperform X

FANG Diamondback Energy

Scotiabank

$86 $95

Downgrades Sec Outperform Sec Perform X

FANG Diamondback Energy

Scotiabank

$84 $86

Initiated Sector Outperform X

FANG Diamondback Energy

Scotiabank

$84

Downgrades Sec Outperform Sec Perform X

FCX Freeport-McMoRan

Scotiabank

$52

Upgrades Sec Perform Sec Outperform X

FCX Freeport-McMoRan

Scotiabank

$41 $50

Downgrades Sec Outperform Sec Perform X

FCX Freeport-McMoRan

Scotiabank

$34

Upgrades Sec Perform Sec Outperform X

FE FirstEnergy

Scotiabank

$50

Initiated Sector Perform X

FLNC Fluence

Scotiabank

$21

Upgrades Sec Underperform Sec Perform X

FR First Industrial Realty

Scotiabank

Initiated Sector Perform X

FROG JFrog

Scotiabank

$29

Initiated Sector Perform X

FRSH Freshworks

Scotiabank

Upgrades Sec Perform Sec Outperform X

FRT Federal Realty

Scotiabank

$131

Downgrades Sec Outperform Sec Perform X

FRT Federal Realty

Scotiabank

$91

Resumed Sector Perform X

FSM Fortuna Silver Mines

Scotiabank

$4.25

Resumed Sector Perform X

FSV FirstService

Scotiabank

$170

Resumed Sector Outperform X

FSV FirstService

Scotiabank

$148 $135

Reiterated Sector Outperform X

FTNT Fortinet

Scotiabank

$90 $71

Initiated Sector Outperform X

FTNT Fortinet

Scotiabank

$65

Downgrades Sec Outperform Sec Perform X

FTS Fortis

Scotiabank

Initiated Sector Outperform X

FVRR Fiverr

Scotiabank

$31

Initiated Sector Outperform X

GERN Geron

Scotiabank

Initiated Sector Outperform X

GFL GFL Environmental

Scotiabank

$50

Resumed Sector Outperform X

GFL GFL Environmental

Scotiabank

Initiated Sector Outperform X

GH Guardant Health

Scotiabank

$36

Resumed Sector Outperform X

GIB CGI Group

Scotiabank

Downgrades Sec Outperform Sec Perform X

GLOB Globant

Scotiabank

$200

Initiated Sector Outperform X

GLOB Globant

Scotiabank

$210

Downgrades Sec Outperform Sec Perform X

GLPI Gaming and Leisure Properties

Scotiabank

Initiated Sector Perform X

GNRC Generac

Scotiabank

$165

Downgrades Sec Outperform Sec Perform X

GOLD Barrick

Scotiabank

Initiated Sector Outperform X

GOOG Alphabet

Scotiabank

$212

Initiated Sector Outperform X

GROY Gold Royalty

Scotiabank

$3

Initiated Sector Outperform X

GTLB GitLab

Scotiabank

$62

Upgrades Sec Perform Sec Outperform X

HCP HashiCorp

Scotiabank

$31

Initiated Sector Perform X

HCP HashiCorp

Scotiabank

$34

Resumed Sector Outperform X

HESM Hess Midstream Partners

Scotiabank

Downgrades Sec Outperform Sec Perform X

HPP Hudson Pacific Properties

Scotiabank

$25

Initiated Sector Perform X

HR Healthcare Realty

Scotiabank

$32

Initiated Sector Perform X

HTA Healthcare Trust of America

Scotiabank

$30

Initiated Sector Outperform X

HUBS HubSpot

Scotiabank

$550

Downgrades Sec Outperform Sec Perform X

HUN Huntsman

Scotiabank

Initiated Sector Perform X

IAS Integral Ad Science

Scotiabank

$10

Initiated Sector Perform X

IE Ivanhoe Electric

Scotiabank

$14

Upgrades Sec Perform Sec Outperform X

IFS Intercorp Financial

Scotiabank

$31 $32

Downgrades Sec Outperform Sec Perform X

IFS Intercorp Financial

Scotiabank

$36

Upgrades Sec Perform Sec Outperform X

ILMN Illumina

Scotiabank

$185

Initiated Sector Perform X

ILMN Illumina

Scotiabank

$216

Upgrades Sec Perform Sec Outperform X

IMO Imperial Oil

Scotiabank

Initiated Sector Perform X

INFA Informatica

Scotiabank

$15

Initiated Sector Outperform X

INMB INmune Bio

Scotiabank

$22

Initiated Sector Perform X

INTU Intuit

Scotiabank

$700

Initiated Sector Outperform X

INVA Innoviva

Scotiabank

$55

Initiated Sector Perform X

INVH Invitation Homes

Scotiabank

$30

Initiated Sector Outperform X

IRON Disc Medicine

Scotiabank

Initiated Sector Perform X

JANX Janux Therapeutics

Scotiabank

$47

Initiated Sector Outperform X

KD Kyndryl

Scotiabank

$22

Initiated Sector Perform X

KMI Kinder Morgan

Scotiabank

$26

Initiated Sector Perform X

KMI Kinder Morgan

Scotiabank

$20

Initiated Sector Outperform X

KNTK Kinetik

Scotiabank

$64

Upgrades Sec Perform Sec Outperform X

KNTK Kinetik

Scotiabank

$34 $37

Initiated Sector Perform X

KNTK Kinetik

Scotiabank

$34

Upgrades Sec Perform Sec Outperform X

KOF Coca-Cola FEMSA

Scotiabank

Downgrades Sec Outperform Sec Perform X

KOF Coca-Cola FEMSA

Scotiabank

Downgrades Sec Perform Sec Underperform X

KRC Kilroy Realty

Scotiabank

$38

Downgrades Sec Outperform Sec Perform X

KRC Kilroy Realty

Scotiabank

$53 $43

Upgrades Sec Perform Sec Outperform X

KRC Kilroy Realty

Scotiabank

$67

Initiated Sector Outperform X

KROS Keros Therapeutics

Scotiabank

Initiated Sector Perform X

KURA Kura Oncology

Scotiabank

$10.50

Downgrades Sec Outperform Sec Perform X

LAC Lithium Americas

Scotiabank

$15 $7

Initiated Sector Outperform X

LAC Lithium Americas

Scotiabank

$20

Upgrades Sec Perform Sec Outperform X

LEGN Legend Biotech

Scotiabank

$65

Initiated Sector Perform X

LEGN Legend Biotech

Scotiabank

Upgrades Sec Underperform Sec Perform X

LILA Liberty Latin America

Scotiabank

$8.70

Downgrades Sec Perform Sec Underperform X

LILA Liberty Latin America

Scotiabank

Downgrades Sec Outperform Sec Perform X

LILAK Liberty LiLAC

Scotiabank

$2.50

Initiated Sector Outperform X

LNG Cheniere Energy

Scotiabank

$242

Initiated Sector Outperform X

LNG Cheniere Energy

Scotiabank

Downgrades Sec Outperform Sec Perform X

LNT Alliant Energy

Scotiabank

$64 $67

Upgrades Sec Perform Sec Outperform X

LNT Alliant Energy

Scotiabank

$60 $59

Downgrades Sec Outperform Sec Perform X

LNT Alliant Energy

Scotiabank

Initiated Sector Outperform X

LQDA Liquidia Technologies

Scotiabank

Upgrades Sec Perform Sec Outperform X

LSPD Lightspeed

Scotiabank

$121 $103

Upgrades Sec Perform Sec Outperform X

MAA Mid-America Aptmt

Scotiabank

$182

Upgrades Sec Underperform Sec Perform X

MAA Mid-America Aptmt

Scotiabank

Downgrades Sec Perform Sec Underperform X

MAA Mid-America Aptmt

Scotiabank

$150

Downgrades Sec Outperform Sec Perform X

MAA Mid-America Aptmt

Scotiabank

Upgrades Sec Perform Sec Outperform X

MAA Mid-America Aptmt

Scotiabank

Upgrades Sec Underperform Sec Perform X

MAC Macerich

Scotiabank

$22

Downgrades Sec Perform Sec Underperform X

MAC Macerich

Scotiabank

$16 $14

Upgrades Sec Perform Sec Outperform X

MAG MAG Silver

Scotiabank

Resumed Sector Perform X

MAG MAG Silver

Scotiabank

$16

Downgrades Sec Outperform Sec Perform X

MAG MAG Silver

Scotiabank

Upgrades Sec Perform Sec Outperform X

MELI MercadoLibre

Scotiabank

$2100

Initiated Sector Perform X

MELI MercadoLibre

Scotiabank

$2050

Downgrades Sec Outperform Sec Perform X

MEOH Methanex

Scotiabank

$53

Upgrades Sec Perform Sec Outperform X

MEOH Methanex

Scotiabank

$47 $54

Downgrades Sec Outperform Sec Perform X

MEOH Methanex

Scotiabank

$60 $47

Upgrades Sec Perform Sec Outperform X

MEOH Methanex

Scotiabank

Downgrades Sec Outperform Sec Perform X

MEOH Methanex

Scotiabank

$50

Downgrades Sec Outperform Sec Perform X

MEOH Methanex

Scotiabank

Initiated Sector Perform X

META Meta Platforms

Scotiabank

Upgrades Sec Perform Sec Outperform X

MFC Manulife Financial

Scotiabank

Resumed Sector Perform X

MGA Magna

Scotiabank

$61

Initiated Sector Outperform X

MGNI Magnite

Scotiabank

$22

Initiated Sector Outperform X

MNDY Monday.com

Scotiabank

$325

Downgrades Sec Outperform Sec Perform X

MNTK Montauk Renewables

Scotiabank

$8 $6

Upgrades Sec Perform Sec Outperform X

MNTK Montauk Renewables

Scotiabank

$9

Initiated Sector Perform X

MNTK Montauk Renewables

Scotiabank

$9

Upgrades Sec Perform Sec Outperform X

MOS Mosaic

Scotiabank

$40

Downgrades Sec Outperform Sec Perform X

MRO Marathon Oil

Scotiabank

$45 $29

Downgrades Sec Outperform Sec Perform X

MRO Marathon Oil

Scotiabank

$19

Initiated Sector Underperform X

MRTX Mirati Therapeutics

Scotiabank

Initiated Sector Outperform X

MTAL MAC Limited

Scotiabank

$14.50

Downgrades Sec Outperform Sec Perform X

MUR Murphy Oil

Scotiabank

Upgrades Sec Perform Sec Outperform X

MUR Murphy Oil

Scotiabank

$16 $20

Upgrades Sec Underperform Sec Perform X

MUR Murphy Oil

Scotiabank

$11 $16

Initiated Sector Outperform X

MYGN Myriad Genetics

Scotiabank

$29

Initiated Sector Outperform X

NAMS NewAmsterdam Pharma

Scotiabank

$35

Initiated Sector Outperform X

NCNO nCino

Scotiabank

$42

Downgrades Sec Outperform Sec Perform X

NEM Newmont Corporation

Scotiabank

Upgrades Sec Perform Sec Outperform X

NEM Newmont Corporation

Scotiabank

$48 $59

Downgrades Sec Outperform Sec Perform X

NEM Newmont Goldcorp

Scotiabank

Initiated Sector Perform X

NET Cloudflare

Scotiabank

$85

Downgrades Sec Perform Sec Underperform X

NEXA Nexa Resources

Scotiabank

$5 $4.50

Downgrades Sec Outperform Sec Perform X

NFG National Fuel Gas

Scotiabank

$91 $85

Resumed Sector Outperform X

NFG National Fuel Gas

Scotiabank

$89

Upgrades Sec Perform Sec Outperform X

NGD New Gold

Scotiabank

Resumed Sector Perform X

NGD New Gold

Scotiabank

$1.25

Initiated Sector Outperform X

NOVA Sunnova Energy

Scotiabank

$28

Initiated Sector Outperform X

NOW ServiceNow

Scotiabank

$1230

Resumed Sector Perform X

NS NuStar Energy

Scotiabank

Upgrades Sec Perform Sec Outperform X

NTR Nutrien

Scotiabank

$95 $90

Downgrades Sec Outperform Sec Perform X

NTR Nutrien

Scotiabank

$110

Upgrades Sec Perform Sec Outperform X

NTR Nutrien

Scotiabank

$118 $110

Downgrades Sec Outperform Sec Perform X

NTR Nutrien

Scotiabank

Upgrades Sec Perform Sec Outperform X

NTST NETSTREIT

Scotiabank

$16 $18

Downgrades Sec Outperform Sec Perform X

NTST NETSTREIT

Scotiabank

Initiated Sector Outperform X

NTST NETSTREIT

Scotiabank

$21

Initiated Sector Outperform X

NXE NexGen Energy

Scotiabank

Initiated Sector Outperform X

NXT Nextracker

Scotiabank

Downgrades Sec Outperform Sec Perform X

O Realty Income

Scotiabank

$61 $54

Upgrades Sec Perform Sec Outperform X

O Realty Income

Scotiabank

$69

Downgrades Sec Outperform Sec Perform X

O Realty Income

Scotiabank

Initiated Sector Outperform X

OCUL Ocular Therapeutix

Scotiabank

Downgrades Sec Outperform Sec Perform X

OHI Omega Health

Scotiabank

$39

Initiated Sector Outperform X

OKE ONEOK

Scotiabank

$109

Initiated Sector Perform X

OKE ONEOK

Scotiabank

$74

Downgrades Sec Outperform Sec Perform X

OKTA Okta

Scotiabank

$74 $70

Initiated Sector Outperform X

OLK Olink Holding

Scotiabank

$27

Upgrades Sec Underperform Sec Perform X

OMAB Grupo Aeroportuario

Scotiabank

Downgrades Sec Perform Sec Underperform X

OMAB Grupo Aeroportuario

Scotiabank

Downgrades Sec Outperform Sec Perform X

OPAL OPAL Fuels

Scotiabank

$8 $5

Initiated Sector Outperform X

OPAL OPAL Fuels

Scotiabank

$10.55

Resumed Sector Perform X

OR Osisko Gold Royalties

Scotiabank

Downgrades Sec Outperform Sec Perform X

ORLA Orla Mining

Scotiabank

Upgrades Sec Perform Sec Outperform X

OXY Occidental Petro

Scotiabank

$90

Resumed Sector Outperform X

PAA Plains All American

Scotiabank

$23

Resumed Sector Outperform X

PAA Plains All American

Scotiabank

$23

Resumed Sector Outperform X

PAA Plains All American

Scotiabank

Downgrades Sec Outperform Sec Perform X

PAC Grupo Aeroportuario del Pacifico

Scotiabank

$224 $185

Upgrades Sec Perform Sec Outperform X

PAC Grupo Aeroportuario del Pacifico

Scotiabank

$124

Initiated Sector Outperform X

PACB Pacific Biosciences

Scotiabank

$12

Resumed Sector Outperform X

PAGP Plains GP

Scotiabank

$23

Resumed Sector Outperform X

PAGP Plains GP

Scotiabank

Initiated Sector Perform X

PAGS PagSeguro Digital

Scotiabank

$39

Reiterated Sector Outperform X

PANW Palo Alto Networks

Scotiabank

$212 $222

Reiterated Sector Outperform X

PANW Palo Alto Networks

Scotiabank

$195 $212

Initiated Sector Perform X

PATH UiPath

Scotiabank

Downgrades Sec Outperform Sec Perform X

PBA Pembina Pipeline

Scotiabank

Downgrades Sec Outperform Sec Perform X

PBR Petrobras Brasileiro

Scotiabank

Upgrades Sec Perform Sec Outperform X

PCOR Procore Technologies

Scotiabank

$81

Initiated Sector Perform X

PCOR Procore Technologies

Scotiabank

Initiated Sector Perform X

PD PagerDuty

Scotiabank

$23

Upgrades Sec Perform Sec Outperform X

PEAK Healthpeak

Scotiabank

$20 $23

Downgrades Sec Outperform Sec Perform X

PEAK Healthpeak

Scotiabank

$24

Upgrades Sec Perform Sec Outperform X

PLD Prologis

Scotiabank

$137 $116

Downgrades Sec Outperform Sec Perform X

PRFT Perficient

Scotiabank

$70

Initiated Sector Outperform X

PRFT Perficient

Scotiabank

$110

Upgrades Sec Perform Sec Outperform X

PRMW Primo Water

Scotiabank

Initiated Sector Perform X

PSA Public Storage

Scotiabank

$267

Downgrades Sec Outperform Sec Perform X

PSMT PriceSmart

Scotiabank

$96 $77

Upgrades Sec Perform Sec Outperform X

PSMT PriceSmart

Scotiabank

$100

Initiated Sector Perform X

PTCT PTC Therapeutics

Scotiabank

$55

Initiated Sector Perform X

PUBM PubMatic

Scotiabank

$17

Upgrades Sec Perform Sec Outperform X

PXD Pioneer Natural Resources

Scotiabank

$175 $185

Downgrades Sec Outperform Sec Perform X

PXD Pioneer Natural Resources

Scotiabank

$180 $175

Initiated Sector Perform X

QLYS Qualys

Scotiabank

$172

Resumed Sector Outperform X

QSR Restaurant Brands Int’l

Scotiabank

$72

Upgrades Sec Perform Sec Outperform X

RBA Ritchie Bros.

Scotiabank

$59 $65

Downgrades Sec Outperform Sec Perform X

RBA Ritchie Bros.

Scotiabank

Initiated Sector Outperform X

RCKT Rocket Pharmaceuticals

Scotiabank

Upgrades Sec Perform Sec Outperform X

RDS-A Royal Dutch Shell

Scotiabank

$54 $56

Upgrades Sec Underperform Sec Perform X

RDS-A Royal Dutch Shell

Scotiabank

$42

Downgrades Sec Perform Sec Underperform X

RDS-A Royal Dutch Shell

Scotiabank

$45 $42

Upgrades Sec Underperform Sec Perform X

RDS-B Royal Dutch Shell B

Scotiabank

Downgrades Sec Outperform Sec Perform X

REXR Rexford Industrial Realty

Scotiabank

$55 $48

Initiated Sector Perform X

REXR Rexford Industrial Realty

Scotiabank

$59

Downgrades Sec Perform Sec Underperform X

RFP Resolute Forest Products

Scotiabank

$22.40 $22.80

Upgrades Sec Underperform Sec Perform X

RFP Resolute Forest Products

Scotiabank

$17

Initiated Sector Outperform X

RNA Avidity Biosciences

Scotiabank

$70

Initiated Sector Perform X

RPD Rapid7

Scotiabank

$46

Initiated Sector Outperform X

RPRX Royalty Pharma

Scotiabank

$53

Downgrades Sec Outperform Sec Perform X

RRC Range Resources

Scotiabank

$45

Upgrades Sec Perform Sec Outperform X

RRC Range Resources

Scotiabank

$45

Downgrades Sec Outperform Sec Perform X

RRC Range Resources

Scotiabank

$45

Resumed Sector Perform X

RRC Range Resources

Scotiabank

$36

Initiated Sector Perform X

RSG Republic Services

Scotiabank

$224

Initiated Sector Perform X

RSG Republic Services

Scotiabank

Initiated Sector Outperform X

RUN Sunrun

Scotiabank

$40

Initiated Sector Outperform X

S SentinelOne

Scotiabank

$13

Initiated Sector Outperform X

SAGE SAGE Therapeutics

Scotiabank

Reiterated Sector Perform X

SEDG SolarEdge Technologies

Scotiabank

$72 $46

Initiated Sector Perform X

SEDG SolarEdge Technologies

Scotiabank

$345

Reiterated Sector Perform X

SHOP Shopify

Scotiabank

$60 $65

Initiated Sector Perform X

SHOP Shopify

Scotiabank

$43

Downgrades Sec Outperform Sec Perform X

SILV SilverCrest Metals

Scotiabank

Initiated Sector Outperform X

SILV SilverCrest Metals

Scotiabank

$8

Downgrades Sec Perform Sec Underperform X

SIM Grupo Simec, S.A de C.V.

Scotiabank

Downgrades Sec Outperform Sec Perform X

SJR Shaw Comms

Scotiabank

Upgrades Sec Perform Sec Outperform X

SJR Shaw Comms

Scotiabank

Resumed Sector Perform X

SJR Shaw Comms

Scotiabank

Upgrades Sec Underperform Sec Perform X

SKT Tanger Factory

Scotiabank

$20 $28

Upgrades Sec Underperform Sec Perform X

SLG SL Green Realty

Scotiabank

$43 $53

Downgrades Sec Perform Sec Underperform X

SLG SL Green Realty

Scotiabank

$43 $34

Downgrades Sec Outperform Sec Perform X

SNDX Syndax Pharmaceuticals

Scotiabank

$36 $23

Initiated Sector Outperform X

SNDX Syndax Pharmaceuticals

Scotiabank

Upgrades Sec Perform Sec Outperform X

SNOW Snowflake

Scotiabank

$213

Downgrades Sec Outperform Sec Perform X

SO Southern

Scotiabank

$78

Upgrades Sec Perform Sec Outperform X

SO Southern

Scotiabank

$78

Downgrades Sec Outperform Sec Perform X

SO Southern

Scotiabank

Initiated Sector Outperform X

SPRY ARS Pharmaceuticals

Scotiabank

$30

Initiated Sector Perform X

SPT Sprout Social

Scotiabank

$28

Initiated Sector Perform X

SPWR SunPower

Scotiabank

$20

Upgrades Sec Perform Sec Outperform X

SQM Sociedad Quimica y Minera

Scotiabank

$84

Downgrades Sec Outperform Sec Perform X

SQM Sociedad Quimica y Minera

Scotiabank

$113 $86

Upgrades Sec Underperform Sec Perform X

SQM Sociedad Quimica y Minera

Scotiabank

Downgrades Sec Outperform Sec Perform X

SSRM SSR Mining

Scotiabank

Resumed Sector Outperform X

STN Stantec

Scotiabank

Resumed Sector Perform X

STN Stantec

Scotiabank

Initiated Sector Perform X

STNE StoneCo

Scotiabank

Downgrades Sec Outperform Sec Perform X

SU Suncor Energy

Scotiabank

Initiated Sector Perform X

SWI SolarWinds

Scotiabank

Downgrades Sec Outperform Sec Perform X

SWN Southwestern Energy

Scotiabank

$9.50

Upgrades Sec Perform Sec Outperform X

SWN Southwestern Energy

Scotiabank

$9.50

Upgrades Sec Perform Sec Outperform X

T AT&T

Scotiabank

$18.50

Downgrades Sec Outperform Sec Perform X

TAC TransAlta

Scotiabank

Downgrades Sec Outperform Sec Perform X

TD Toronto-Dominion Bank

Scotiabank

Upgrades Sec Perform Sec Outperform X

TD Toronto-Dominion Bank

Scotiabank

Upgrades Sec Perform Sec Outperform X

TD Toronto-Dominion Bank

Scotiabank

Initiated Sector Perform X

TEAM Atlassian

Scotiabank

$185

Initiated Sector Outperform X

TECH Bio-Techne

Scotiabank

$80

Initiated Sector Perform X

TENB Tenable

Scotiabank

$47

Downgrades Sec Perform Sec Underperform X

TEO Telecom Argentina

Scotiabank

Upgrades Sec Underperform Sec Perform X

TEO Telecom Argentina

Scotiabank

Downgrades Sec Perform Sec Underperform X

TEO Telecom Argentina

Scotiabank

Upgrades Sec Perform Sec Outperform X

TFII TFI International

Scotiabank

Downgrades Sec Outperform Sec Perform X

TFII TFI International

Scotiabank

Upgrades Sec Perform Sec Outperform X

TIGO Millicom International Cellular

Scotiabank

Downgrades Sec Outperform Sec Perform X

TIGO Millicom International Cellular

Scotiabank

Upgrades Sec Perform Sec Outperform X

TIGO Millicom International Cellular

Scotiabank

$32.90

Downgrades Sec Outperform Sec Perform X

TIGO Millicom International Cellular

Scotiabank

Upgrades Sec Perform Sec Outperform X

TIMB TIM S.A.

Scotiabank

Downgrades Sec Outperform Sec Perform X

TIXT TELUS International

Scotiabank

$10

Upgrades Sec Perform Sec Outperform X

TIXT TELUS International

Scotiabank

Downgrades Sec Outperform Sec Perform X

TIXT TELUS International

Scotiabank

$33 $26

Initiated Sector Perform X

TMO Thermo Fisher

Scotiabank

Initiated Sector Perform X

TMQ Trilogy Metals

Scotiabank

Downgrades Sec Outperform Sec Perform X

TMUS T-Mobile US

Scotiabank

$215.50 $236

Upgrades Sec Perform Sec Outperform X

TMUS T-Mobile US

Scotiabank

$153 $167

Resumed Sector Outperform X

TRGP Targa Resources

Scotiabank

$218

Initiated Sector Outperform X

TRGP Targa Resources

Scotiabank

$115

Upgrades Sec Perform Sec Outperform X

TRI Thomson Reuters

Scotiabank

$164 $182

Downgrades Sec Outperform Sec Perform X

TRI Thomson Reuters

Scotiabank

Upgrades Sec Perform Sec Outperform X

TRI Thomson Reuters

Scotiabank

Resumed Sector Perform X

TRI Thomson Reuters

Scotiabank

$126

Downgrades Sec Outperform Sec Perform X

TRNO Terreno Realty

Scotiabank

$73 $54

Upgrades Sec Perform Sec Outperform X

TRQ Turquoise Hill Resources

Scotiabank

Downgrades Sec Outperform Sec Perform X

TRQ Turquiose Hill Resources

Scotiabank

Initiated Sector Perform X

TTD The Trade Desk

Scotiabank

$133

Upgrades Sec Perform Sec Outperform X

TU Telus

Scotiabank

Downgrades Sec Outperform Sec Perform X

TU Telus

Scotiabank

Initiated Sector Outperform X

TVTX Travere Therapeutics

Scotiabank

Initiated Sector Outperform X

TWLO Twilio

Scotiabank

$215

Initiated Sector Outperform X

TWST Twist Bioscience

Scotiabank

$33

Upgrades Sec Perform Sec Outperform X

TX Ternium S.A.

Scotiabank

$63 $61

Downgrades Sec Outperform Sec Perform X

TX Ternium S.A.

Scotiabank

$44

Initiated Sector Outperform X

UDMY Udemy

Scotiabank

$10

Downgrades Sec Outperform Sec Perform X

UDR UDR

Scotiabank

$39

Upgrades Sec Perform Sec Outperform X

UDR UDR

Scotiabank

$44 $45

Initiated Sector Perform X

UPWK Upwork

Scotiabank

$15

Downgrades Sec Outperform Sec Perform X

VALE Vale S.A.

Scotiabank

$16

Initiated Sector Outperform X

VCYT Veracyte

Scotiabank

$33

Initiated Sector Perform X

VEEV Veeva Systems

Scotiabank

$235

Initiated Sector Outperform X

VERA Vera Therapeutics

Scotiabank

Downgrades Sec Outperform Sec Perform X

VET Vermilion Energy

Scotiabank

Upgrades Sec Perform Sec Outperform X

VET Vermilion Energy

Scotiabank

Initiated Sector Perform X

VG Venture Global

Scotiabank

$17

Downgrades Sec Outperform Sec Perform X

VIV Telefonica Brasil

Scotiabank

$11.50

Initiated Sector Outperform X

VKTX Viking Therapeutics

Scotiabank

$102

Initiated Sector Perform X

VRTX Vertex Pharma

Scotiabank

Resumed Sector Outperform X

VZ Verizon

Scotiabank

Upgrades Sec Perform Sec Outperform X

WAT Waters

Scotiabank

$450

Initiated Sector Perform X

WAT Waters

Scotiabank

Initiated Sector Perform X

WCN Waste Connections

Scotiabank

$196

Resumed Sector Perform X

WCN Waste Connections

Scotiabank

$153

Downgrades Sec Outperform Sec Perform X

WCN Waste Connections

Scotiabank

$135

Initiated Sector Outperform X

WDAY Workday

Scotiabank

$340

Upgrades Sec Perform Sec Outperform X

WEC WEC Energy Group

Scotiabank

$109

Resumed Sector Perform X

WES Western Midstream

Scotiabank

Initiated Sector Outperform X

WIX Wix.com

Scotiabank

$250

Upgrades Sec Underperform Sec Perform X

WLK Westlake Chemical

Scotiabank

Upgrades Sec Perform Sec Outperform X

WM Waste Mgmt

Scotiabank

$225 $250

Initiated Sector Perform X

WM Waste Mgmt

Scotiabank

$220

Resumed Sector Perform X

WM Waste Mgmt

Scotiabank

$182

Resumed Sector Perform X

WMB Williams Cos

Scotiabank

$51

Resumed Sector Perform X

WMB Williams Cos

Scotiabank

$35

Upgrades Sec Perform Sec Outperform X

WMB Williams Cos

Scotiabank

Resumed Sector Outperform X

WPM Wheaton Precious Metals

Scotiabank

$60

Downgrades Sec Outperform Sec Perform X

WRI Weingarten Realty

Scotiabank

$30

Upgrades Sec Perform Sec Outperform X

WRI Weingarten Realty

Scotiabank

$26

Downgrades Sec Perform Sec Underperform X

XEC Cimarex

Scotiabank

$67 $71

Upgrades Sec Perform Sec Outperform X

XEC Cimarex

Scotiabank

$65 $75

Resumed Sector Perform X

XEC Cimarex

Scotiabank

$50

Upgrades Sec Perform Sec Outperform X

XOM Exxon Mobil

Scotiabank

$129 $145

Downgrades Sec Outperform Sec Perform X

XOM Exxon Mobil

Scotiabank

$140 $135

Upgrades Sec Perform Sec Outperform X

XOM Exxon Mobil

Scotiabank

$120 $135

Initiated Sector Perform X

ZI ZoomInfo

Scotiabank

$10.30

Initiated Sector Outperform X

ZLAB Zai Lab

Scotiabank

$55

Initiated Sector Outperform X

ZS Zscaler

Scotiabank

$115