Equity Research Coverage Page 1
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Equity Research Coverage February 26, 2021 COMPANY TICKER Mkt. Cap ($M) RATING PRICE TARGET COMPANY TICKER Mkt. Cap ($M) RATING PRICE TARGET China Internet Fawne Jiang 212-312-6712 Enterprise Software Mark Schappel 212-312-6749 Alibaba Group Holdings Ltd. BABA $699,557 Buy $315 Altair Engineering Inc. Class A ALTR $4,509 Buy $60 Autohome, Inc. ATHM $15,259 Buy $135 ANSYS, Inc. ANSS $32,911 Buy $370 Baidu, Inc. BIDU $115,735 Buy $385 Aspen Technology, Inc. AZPN $10,387 Buy $175 iClick Interactive Asia Group Ltd. ICLK $1,229 Buy $24 Blackbaud, Inc. BLKB $3,479 Buy $88 JD.com, Inc. JD $157,909 Buy $114 E2open, Inc. ETWO $2,194 Buy $15 Meituan Class B 3690-HKG $2,356,513 Buy HKD 350 eGain Corp. EGAN $363 Buy $17 Momo, Inc. MOMO $3,526 Buy $27 LivePerson, Inc. LPSN $4,404 Buy $75 NetEase, Inc. NTES $81,990 Buy $140 Manhattan Associates, Inc MANH $8,123 Buy $137 Pinduoduo Inc. PDD $230,844 Buy $150 Mitek Systems, Inc. MITK $678 Buy $22 Tencent Holdings, Inc. 700-HKG HKD 6,845,693 Buy HKD 625 Open Text Corp. OTEX $12,439 Buy $56 Vipshops Holdings, Inc. VIPS $24,709 Buy $45 Pegasystems, Inc. PEGA $11,856 Buy $160 Weibo Corp. WB $13,203 Buy $50 Powerbridge Technologies Co. PBTS $40 Speculative Buy $10 WiMi Hologram Cloud, Inc. WIMI $728 Buy $8 Progress Software Corp. PRGS $1,958 Buy $55 JOYY, Inc. Sponsored ADR Class A YY $9,942 Buy $165 Real Page, Inc. RP $8,878 Hold NA Rimini Street Inc Class A RMNI $600 Buy $10 China Consumer Fawne Jiang 212-312-6712 SPS Commerce, Inc. SPSC $3,870 Buy $120 China Online Education Group COE $532 Buy $38 Tyler Technologies TYL $18,650 Buy $520 Huazhu Group Ltd. HTHT $19,182 Buy $76 Varonis Systems, Inc. VRNS $6,800 Buy $205 New Oriental Edu. & Tech. Group EDU $32,809 Buy $195 TAL Education TAL $50,926 Buy $95 Internet Daniel Kurnos, CFA 561-939-8262 Trip.com Group Ltd. TCOM $23,723 Buy $52 1-800-FLOWERS FLWS $2,052 Buy $42 Amazon.com AMZN $1,601,709 Buy $4,400 Entertainment Software & Med. Mike Hickey 720-236-0207 ANGI Homeservices Inc ANGI $7,526 Buy $16 Activision Blizzard, Inc. ATVI $74,643 Buy $118 Blucora, Inc. BCOR $786 Buy $21 AMC Entertainment AMC $2,512 Hold NA Booking Holdings Inc. BKNG $96,245 Hold NA Cinemark Holdings CNK $2,742 Buy $21 Car Gurus, Inc. CARG $3,252 Buy $40 DraftKings Inc Class A DKNG $47,374 Buy $66 Cars.com, Inc. CARS $877 Hold NA Electronic Arts, Inc EA $40,918 Buy $177 Cinedigm Corp CIDM $316 Speculative Buy $3.50 DeNA Company Limited 2432-TKS ¥293,365 Buy ¥2700 eBay Inc. EBAY $41,888 Buy $80 dMY Technology Group DMYD $699 Buy 30 Expedia, Inc. EXPE $23,106 Buy $175 Glu Mobile GLUU $2,193 Hold NA Grubhub, Inc. GRUB $6,140 Hold NA GameStop Corp. GME $3,208 Sell $5 IAC/InterActiveCorp IAC $20,761 Buy $265 Golden Nugget Online Gaming, Inc. GNOG $1,062 Buy $27 NCR Corp. NCR $4,610 Buy $44 Imax Corp. IMAX $1,213 Buy $22 Porch Group, Inc. PRCH $1,687 Buy $24 Marcus Corp. MCS $566 Buy $21 Roku, Inc. Class A ROKU $55,505 Buy $600 Motorsport Games, Inc. MSGM $503 Buy $42 TrueCar, Inc. TRUE $540 Buy $8 National CineMedia, Inc. NCMI $759 Hold NA Waitr Holdings Inc. WTRH $387 Buy $5 Rush Street Interactive RSI $803 Buy $30 Zillow Inc. ZG $41,072 Buy $230 Take Two Interactive TTWO $21,866 Buy $250 Ubisoft Entertainment, SA UBI-PAR € 8,762 Hold NA Publishing & Broadcasting Daniel Kurnos, CFA 561-939-8262 World Wrestling Entertainment WWE $3,715 Buy $62 ViacomCBS Inc VIAC $40,817 Buy $80 Zynga, Inc. ZNGA $12,614 Buy $12 Chicken Soup for the Soul CSSE $409 Buy $25 CuriosityStream, Inc. CURI $990 Buy $22 Cannabis Mike Hickey 720-236-0207 Gray Television, Inc. GTN $1,843 Buy $26 Canopy Growth Corp. WEED-TSE CAD 17,591 Hold NA Meredith Corp. MDP $1,250 Hold NA Charlotte's Web Holdings, Inc. CWEB-TSE $1,008 Speculative Buy $4 Nexstar Broadcasting Group, Inc. NXST $5,660 Buy $180 Green Thumb Industries GTII-CNQ $10,170 Buy $42 Sinclair Broadcasting Group, Inc. SBGI $2,575 Buy $40 KushCo Holdings, Inc. KSHB $209 Speculative Buy $2 The E.W. Scripps Company SSP $1,565 Buy $21 Tilray, Inc. TLRY $4,516 Hold NA TEGNA, Inc. TGNA $4,038 Buy $20 Page 1 Equity Research Coverage February 26, 2021 COMPANY TICKER Mkt. Cap ($M) RATING PRICE TARGET COMPANY TICKER Mkt. Cap ($M) RATING PRICE TARGET Automotive Michael Ward 203-632-6202 Aerospace & Defense Josh Sullivan 212-312-6775 Adient plc ADNT $3,496 Buy $47 AAR Corporation AIR $1,449 Buy $40 Aptiv plc APTV $42,391 Hold NA Allegheny Technologies Inc. ATI $2,595 Buy $21 AutoNation, Inc. AN $6,466 Hold NA Arconic Inc. ARNC $2,808 Buy $34 Carvana Co. CVNA $48,431 Hold NA Boeing Company BA $124,108 Buy $270 Cooper-Standard Holdings Inc. CPS $629 Buy $46 CACI International Inc CACI $5,911 Buy $300 Ford Motor Company F $46,551 Buy $14 Carpenter Technology Corporation CRS $2,008 Hold NA General Motors Company GM $74,899 Buy $64 Constellium N.V. CSTM $1,914 Buy € 19 Group 1 Automotive GPI $2,696 Buy $190 Desktop Metal, Inc. DM $5,617 Buy $28 Lear Corporation LEA $10,205 Buy $186 Fortress Transportation & Infrastructure InvestorsFTAI LLC $2,266 Buy $37 Lithia Motors, inc. LAD $9,874 Buy $380 HEICO Corporation HEI $16,749 Buy $120 Lyft Inc. LYFT $18,395 Hold NA Howmet Aerospace Inc. HWM $12,423 Hold NA Magna International Inc. MGA $26,098 Buy $99 Jacobs Engineering Group Inc. J $15,057 Buy $120 Penske Automotive Group, Inc. PAG $5,336 Buy $90 Kaiser Aluminum Corporation KALU $1,886 Buy $120 Shift Technologies, Inc. SFT $819 Hold NA Kratos Defense & Security Solutions, Inc. KTOS $3,744 Buy $30 Sonic Automotive, Inc. Class A SAH $1,826 Buy $54 L3Harris Technologies Inc LHX $39,568 Buy $250 Superior Industries Int, Inc. SUP $172 Hold NA PAE Incorporated Class A PAE $786 Buy $14 =FDS(C71,"FG_COMPANY_NAME") VRM $6,209 Hold NA Parsons Corporation PSN $3,966 Buy $45 Raytheon Technologies Corporation RTX $110,922 Hold NA Coal & Transportation Nate Martin 804-822-1364 Science Applications International Corp. SAIC $5,449 Buy $105 Alliance Resource Partners, L.P. ARLP $803 Buy $7 Spirit AeroSystems Holdings, Inc. Class A SPR $4,516 Hold NA Alpha Metallurgical Resources, Inc. AMR $271 Hold NA VSE Corporation VSEC $494 Buy $55 Arch Resources, Inc. Class A ARCH $780 Buy $54 CSX Corporation CSX $70,593 Buy $100 Semiconductor & Related Ruben Roy 212-312-6702 Canadian National Railway Co. CNI $76,266 Hold NA Advanced Micro Devices, Inc. AMD $103,407 Hold NA Canadian Pacific Railway Ltd. CP $48,419 Hold NA Cadence Design Systems, Inc. CDNS $37,148 Buy $150 CONSOL Energy Inc CEIX $384 Buy $11 Cirus Logic, Inc. CRUS $4,977 Buy $105 Coronado Global Resources Inc. Shs Chess DepositoryCRN Interests$1,428 Repr 10 Sh Hold NA Diodes Incorporated DIOD $3,668 Buy $95 Kansas City Southern Railway KSU $19,414 Hold NA Ideal Power Inc. IPWR $98 Buy $28 =FDS(C83,"FG_COMPANY_NAME") NRP $219 Buy $15 Intel Corp. INTC $246,604 Hold NA Norfolk Southern Corporation NSC $65,557 Buy $260 Lattice Semiconductor Corporation LSCC $6,344 Buy $55 Peabody Energy Corporation BTU $437 Hold NA MACOM Technology Solutions Holdings, Inc.MTSI $4,451 Buy $72 Ramaco Resources, Inc. METC $216 Buy $6 Marvell Technology Group, Ltd. MRVL $33,300 Buy $52 SunCoke Energy, Inc. SXC $550 Buy $7 Maxim Integrated Products MXIM $25,550 Hold NA Teck Resources Limited Class B TECK $12,358 Buy CAD 24 NVIDIA Corp. NVDA $355,448 Buy $670 Union Pacific Corporation UNP $139,376 Buy $230 ON Semiconductor ON $16,656 Buy $45 Warrior Met Coal, Inc. HCC $1,212 Hold NA One Stop Systems, Inc. OSS $138 Speculative Buy $3.50 Qorvo, Inc. QRVO $19,513 Buy $200 Construction Reuben Garner 703-472-7473 Silicon Laboratories, Inc. SLAB $7,121 Buy $190 Belden Inc. BDC $1,987 Buy $59 Skyworks Solutions SWKS $30,330 Buy $215 BlueLinx Holdings, Inc. BXC $433 Buy $61 Synopsys, Inc. SNPS $38,808 Buy $320 Boise Cascade Co. BCC $2,041 Buy $56 Xilinx, Inc. XLNX $32,202 Hold NA Builders FirstSource, Inc. BLDR $8,488 Buy $53 Velodyne Lidar, Inc. VLDR $3,107 Buy $25 Ceasarstone Ltd. CSTE $462 Buy $17 Herman Miller, Inc. MLHR $2,268 Buy $44 Technology, Hardware Mark Miller 703-360-6203 HNI Corporation HNI $1,545 Buy $43 ACM Research, Inc. ACMR $2,068 Hold NA Installed Building Products, Inc. IBP $3,675 Hold NA Amtech Systems ASYS $151 Buy $10 JELD-WEN Holding, Inc. JELD $2,856 Hold NA Axcelis Technologies ACLS $1,312 Buy $45 Masonite International Corp. DOOR $2,677 Buy $137 Coherent Inc. COHR $6,116 Hold NA Owens Corning OC $8,644 Buy $107 II-VI Incorporated IIVI $9,164 Buy $105 Quanex Building Products Corporation NX $825 Buy $30 IPG Photonics IPGP $12,278 Hold NA Steelcase Inc. Class A SCS $1,634 Hold NA Intevac, Inc. IVAC $159 Buy $9 TopBuild Corp. BLD $6,644 Hold NA MKS Instruments, Inc. MKSI $9,191 Buy $190 Trex Company, Inc. TREX $11,602 Hold NA nLight, Inc.