Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

GFL Environmental Inc. provides waste management services. The Company offers identification, collection, transport, processing, recycling, and disposal of broad range of hazardous and non-hazardous liquid waste. GFL Environmental serves the industrial, commercial, municipal, and residential sectors in Canada.

<ul><li>GFL Environmental Inc. presented a mixed financial performance in its fourth-quarter and annual earnings call for 2024, showcasing both promising growth strategies and some potential headwinds.</li><li>For the quarter, the company reported consolidated revenue of $1.986 billion, outpacing their expectations due to solid waste organic growth and strategic pricing initiatives.</li><li>The company also highlighted a 7% organic growth in the solid waste segment, a sign of resilience and effective management strategies.</li></ul>

GFL Environmental Inc. presented a mixed financial performance in its fourth-quarter and annual earnings call for 2024, showcasing both promising growth strategies and some potential headwinds.For the quarter, the company reported consolidated revenue of $1.986 billion, outpacing their expectations due to solid waste organic growth and strategic pricing initiatives.The company also highlighted a 7% organic growth in the solid waste segment, a sign of resilience and effective management strategies.

GFL Environmental Eyes $1 Billion In M&A—Will This Aggressive Inorganic Expansion Materialize?

ATS Corporation is a custom engineer and producer of industrial automated manufacturing systems for industries such as life sciences, chemicals, consumer products, electronics, food, beverage, transportation, energy, and oil and gas. The Company also provides value-added services including pre-automation and after-sales services.

<ul><li>ATS Corporation reported its third-quarter results for fiscal year 2025, showcasing several positive and negative aspects of performance.</li><li>Positively, ATS experienced its second-highest bookings quarter in history, marking a 32% increase over the same quarter last year, driven by strong organic growth and acquisitions across various market verticals.</li><li>This has resulted in a significant backlog of approximately $2.1 billion, which offers good visibility for future revenue streams.</li></ul>

ATS Corporation reported its third-quarter results for fiscal year 2025, showcasing several positive and negative aspects of performance.Positively, ATS experienced its second-highest bookings quarter in history, marking a 32% increase over the same quarter last year, driven by strong organic growth and acquisitions across various market verticals.This has resulted in a significant backlog of approximately $2.1 billion, which offers good visibility for future revenue streams.

ATS Corporation Gears Up for Margin Breakthrough—Here’s How It’s Turning Transportation Woes Into Wins!

Research from Atrium Research, Atrium Research Corporation

Atrium Research

Research from Atrium Research

Atrium Research Corporation

Atrium Research provides institutional quality issuer paid research on public equities in North America. Our investment philosophy takes a 3-5 year view on equities currently being overlooked by the market. Our research process emphasizes understanding the key performance metrics for each specific company, trustworthy management teams, unit economics, and an in-depth valuation analysis. 

Our research product includes in-depth initiation reports, research notes, thematic research pieces, and company fact sheets.

Amerigo Resources Ltd. produces copper and molybdenum.  The Company operates in South America.

<ul><li>What you need to know: • We visited Amerigo’s MVC processing facility in Rancagua, Chile and were highly impressed with the site and plant, as well as the scale of the operation.</li><li> • The copper price increased substantially after Q4, positioning the Company for even stronger cash flow in Q1/25.</li><li>• For more information on ARG, you can find all our research on our website here and an interview we hosted with CEO Aurora Davidson, here.</li></ul>

What you need to know: • We visited Amerigo’s MVC processing facility in Rancagua, Chile and were highly impressed with the site and plant, as well as the scale of the operation. • The copper price increased substantially after Q4, positioning the Company for even stronger cash flow in Q1/25.• For more information on ARG, you can find all our research on our website here and an interview we hosted with CEO Aurora Davidson, here.

External broker reports(aggregated public sources), Canaccord Genuity

Canaccord Genuity

External broker reports(aggregated public sources)

Canaccord Genuity Group Inc. is a leading independent investment bank with operations in North America, UK & Europe and Asia-Pacific. Canaccord Genuity Group Inc. is a leading independent, full-service financial services firm. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Laramide Resources Ltd. is a mineral resource company. The Company specializes in the acquisition, discovery and development of uranium projects. Laramide's current main focus is the Westmoreland Uranium Project in Queensland, Australia.

<div><div><div><div><ul><li>LAM had an active FY24, completing a PEA for the Churchrock-Crownpoint project in New Mexico, increasing it's resource size at the Westmoreland project (Queensland)<br>by 27% and expanding its portfolio with the acquisition of an option agreement for tenements in Kazakhstan.</li><li>We expect continued development of these opportunities in 2025, noting our expectations of a final permit approval at Churchrock-Crownpoint, a repeal of the QLD uranium mining ban and the release of prior exploration results across the Kazakh tenements.</li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

LAM had an active FY24, completing a PEA for the Churchrock-Crownpoint project in New Mexico, increasing it's resource size at the Westmoreland project (Queensland) by 27% and expanding its portfolio with the acquisition of an option agreement for tenements in Kazakhstan.We expect continued development of these opportunities in 2025, noting our expectations of a final permit approval at Churchrock-Crownpoint, a repeal of the QLD uranium mining ban and the release of prior exploration results across the Kazakh tenements.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>Trump’s reciprocal tariff plan imposes a 27% duty on Indian goods, sparing pharma and IT but impacting autos, textiles, chemicals, and solar exports.</li>
<li>Despite steep headline tariffs, India’s top export sectors, IT services and pharma, remain unaffected, preserving key revenue streams and softening near-term macroeconomic impact.</li>
<li>Investors will likely rotate into resilient sectors like pharma and IT while avoiding margin-sensitive names in textiles, chemicals, and auto ancillaries vulnerable to export-led earnings volatility.</li>
</ul>


Trump’s reciprocal tariff plan imposes a 27% duty on Indian goods, sparing pharma and IT but impacting autos, textiles, chemicals, and solar exports.
Despite steep headline tariffs, India’s top export sectors, IT services and pharma, remain unaffected, preserving key revenue streams and softening near-term macroeconomic impact.
Investors will likely rotate into resilient sectors like pharma and IT while avoiding margin-sensitive names in textiles, chemicals, and auto ancillaries vulnerable to export-led earnings volatility.


Decoding Trump’s Reciprocal Tariffs: Limited Shock for India, Sector Rotation Ahead

Canada
Insights on Canada

GFL Environmental Eyes $1 Billion In M&A—Will This Aggressive Inorganic Expansion Materialize?

GFL Environmental Inc. presented a mixed financial performance in its fourth-quarter and annual earnings call for 2024, showcasing both promising...

Baptista Research

ATS Corporation Gears Up for Margin Breakthrough—Here’s How It’s Turning Transportation Woes Into Wins!

ATS Corporation reported its third-quarter results for fiscal year 2025, showcasing several positive and negative aspects of...

Baptista Research

ARG: Highlights from Our MVC Site Visit

What you need to know: • We visited Amerigo’s MVC processing facility in Rancagua, Chile and were highly impressed with the site and plant, as...

Atrium Research

Laramide Resources Ltd - FY24 Result

We update for actuals and roll forward our valuation by 6 months. We maintain our SPEC BUY rating and A$1.25/sh price target.

Canaccord Genuity

Decoding Trump’s Reciprocal Tariffs: Limited Shock for India, Sector Rotation Ahead

Trump's reciprocal tariff plan on Indian goods spares pharma and IT, impacting autos, textiles, chemicals, and solar exports. Investors may shift...

Nimish Maheshwari

GFL Environmental Eyes $1 Billion In M&A—Will This Aggressive Inorganic Expansion Materialize?

GFL Environmental Inc. presented a mixed financial performance in its fourth-quarter and annual earnings call for 2024, showcasing both promising...

Baptista Research

ATS Corporation Gears Up for Margin Breakthrough—Here’s How It’s Turning Transportation Woes Into Wins!

ATS Corporation reported its third-quarter results for fiscal year 2025, showcasing several positive and negative aspects of...

Baptista Research

ARG: Highlights from Our MVC Site Visit

What you need to know: • We visited Amerigo’s MVC processing facility in Rancagua, Chile and were highly impressed with the site and plant, as...

Atrium Research

Laramide Resources Ltd - FY24 Result

We update for actuals and roll forward our valuation by 6 months. We maintain our SPEC BUY rating and A$1.25/sh price target.

Canaccord Genuity

Decoding Trump’s Reciprocal Tariffs: Limited Shock for India, Sector Rotation Ahead

​Trump's reciprocal tariff plan on Indian goods spares pharma and IT, impacting autos, textiles, chemicals, and solar exports. Investors may shift...

Nimish Maheshwari

Trump's reciprocal tariff plan on Indian goods spares pharma and IT, impacting autos, textiles, chemicals, and solar exports. Investors may shift...