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

Abercrombie & Fitch Co Cl A / Equity Bottom-Up

Abercrombie & Fitch Co.  a specialty retailer that operates stores and direct-to-consumer operations. Through these channels, the Company sells: casual sportswear apparel, including knit and woven shirts, graphic t-shirts, fleece, jeans and woven pants, shorts, sweaters, and outerwear; personal care products; and accessories for men, women and kids.

<ul><li>Abercrombie & Fitch Company delivered strong financial performance in the fourth quarter of fiscal year 2024, marking a successful turnaround and growth trajectory driven by robust sales, improved operating efficiencies, and strategic investments.</li><li>The period ended with notable financial achievements including a 9% increase in net sales year-over-year, translating to $1.58 billion.</li><li>Excluding the impact of the 53rd week in 2023, the net sales growth was an even more impressive 14%.</li></ul>

Abercrombie & Fitch Company delivered strong financial performance in the fourth quarter of fiscal year 2024, marking a successful turnaround and growth trajectory driven by robust sales, improved operating efficiencies, and strategic investments.The period ended with notable financial achievements including a 9% increase in net sales year-over-year, translating to $1.58 billion.Excluding the impact of the 53rd week in 2023, the net sales growth was an even more impressive 14%.

Abercrombie & Fitch Quietly Built A Retail Empire — And Just Fired Its Biggest Growth Cannon Yet!

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

JD.com, Inc. is an online direct sales company in China. The Company offers a wide selection of products through its website and mobile applications. JD.com sells appliances, computers, digital products, communication products, garments, books, and household items to consumers and vendors.

<ul>
<li>This Insight analyses <a href="https://www.smartkarma.com/entities/jd-com-inc" target="_blank" data-smartkarma-citation="entities:29043:1" rel="noopener">JD.com (9618 HK)</a> option strategies traded over the last five trading days on the Hong Kong Exchange. Strategy highlights and volatility context are provided.</li>
<li>
Bearish strategies dominate trading activity, outnumbering bullish ones by more than 3:1, with long volatility structures and calendar/diagonal spreads being prevalent.</li>
<li>
Long tail events: Several strategies follow a pattern of minimal upfront cost (0.1% premium), targeting a significant payout in case of large price movements within a short timeframe. </li>
</ul>


This Insight analyses JD.com (9618 HK) option strategies traded over the last five trading days on the Hong Kong Exchange. Strategy highlights and volatility context are provided.

Bearish strategies dominate trading activity, outnumbering bullish ones by more than 3:1, with long volatility structures and calendar/diagonal spreads being prevalent.

Long tail events: Several strategies follow a pattern of minimal upfront cost (0.1% premium), targeting a significant payout in case of large price movements within a short timeframe. 


JD.com (9618 HK): Strategic Highlights and Market View from HKEX Top Trades

Target Corporation operates general merchandise discount stores. The Company focuses on merchandising operations which includes general merchandise and food discount stores and a fully integrated online business. Target also offers credit to qualified applicants through its branded proprietary credit cards.

<ul><li>Target Corporation's recent financial presentation unveiled a comprehensive roadmap for potential growth, positioned against the backdrop of a mixed retail environment characterized by both challenges and opportunities.</li><li>Target emphasized its differentiated retail strategy, focusing on delivering on-trend, affordable products, aiming to capitalize on its unique brand position in the market often affectionately referred to as "Tarzhay" by its consumers.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Target Corporation's recent financial presentation unveiled a comprehensive roadmap for potential growth, positioned against the backdrop of a mixed retail environment characterized by both challenges and opportunities.Target emphasized its differentiated retail strategy, focusing on delivering on-trend, affordable products, aiming to capitalize on its unique brand position in the market often affectionately referred to as "Tarzhay" by its consumers.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Target Corporation Paving The Way Forward With Digital Future With AI

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>Automobile industry is expected to witness a mixed performance in FY25 Volume growth, with robust growth in tractors, moderate increases in 2W’s and PV’s, and a slight decline in CV’s</li>
<li>Favorable farmer sentiment driving tractor demand and substantial export opportunities for 2W’s are key growth triggers anticipated.</li>
<li>
<a href="https://www.smartkarma.com/entities/escorts-kubota-ltd" target="_blank" data-smartkarma-citation="entities:6773:1" rel="noopener">Escorts Kubota Limited (ESCORTS IN)</a> with a revenue share of 80% from tractor business, foresees significant growth driven by a robust domestic market and double-digit growth in their export business. </li>
</ul>


Automobile industry is expected to witness a mixed performance in FY25 Volume growth, with robust growth in tractors, moderate increases in 2W’s and PV’s, and a slight decline in CV’s
Favorable farmer sentiment driving tractor demand and substantial export opportunities for 2W’s are key growth triggers anticipated.

Escorts Kubota Limited (ESCORTS IN) with a revenue share of 80% from tractor business, foresees significant growth driven by a robust domestic market and double-digit growth in their export business. 


Automobile Industry FY25: Expectations for Different Verticals

Quantitative Researcher, MRM Research

Nico Rosti

Quantitative Researcher

MRM Research

Quantitative Research

The NIFTY 50 index is National Stock Exchange of India's benchmark stock market index for Indian equity market. Nifty is owned and managed by India Index Services and Products (IISL), which is a wholly owned subsidiary of the NSE Strategic Investment Corporation Limited.

<ul>
<li>The <a href="https://www.smartkarma.com/entities/nifty-index" target="_blank" data-smartkarma-citation="entities:23617:1" rel="noopener">NIFTY Index</a> had rallied quite hard the week before last week, then stalled last week, however its looks like maybe is changing in its trend structure, maybe a breakout...</li>
<li>However the breakout may have to wait a bit more, as the NIFTY is overbought WEEKLY according to our model: before the uptrend resumes, there will be a pullback.</li>
<li>Last: as written by <a href="https://www.smartkarma.com/companies/acegama-advisors" target="_blank" data-smartkarma-citation="companies:30807" rel="noopener">AceGama Advisors</a> the WEEKLY options expiry will be moved from Thursday to Monday, starting in April 2025, impacting the market. Read their insight for detailed analysis.</li>
</ul>


The NIFTY Index had rallied quite hard the week before last week, then stalled last week, however its looks like maybe is changing in its trend structure, maybe a breakout...
However the breakout may have to wait a bit more, as the NIFTY is overbought WEEKLY according to our model: before the uptrend resumes, there will be a pullback.
Last: as written by AceGama Advisors the WEEKLY options expiry will be moved from Thursday to Monday, starting in April 2025, impacting the market. Read their insight for detailed analysis.


NIFTY Outlook: Possible Breakout as Options Expiry Moves to Monday

Consumer
Insights in the Consumer Space

Abercrombie & Fitch Quietly Built A Retail Empire — And Just Fired Its Biggest Growth Cannon Yet!

Abercrombie & Fitch Company delivered strong financial performance in the fourth quarter of fiscal year 2024, marking a successful turnaround...

Baptista Research

JD.com (9618 HK): Strategic Highlights and Market View from HKEX Top Trades

Analysis of JD.com option strategies on HK Exchange: Bearish strategies dominate, long tail events with minimal upfront cost target significant...

Gaudenz Schneider

Target Corporation Paving The Way Forward With Digital Future With AI

Target Corporation's recent financial presentation unveiled a comprehensive roadmap for potential growth, positioned against the backdrop of a...

Baptista Research

Automobile Industry FY25: Expectations for Different Verticals

Mixed performance expected in FY25 for automobile industry with strong growth in tractors, moderate increases in 2W’s and PV’s, and slight decline...

Nimish Maheshwari

NIFTY Outlook: Possible Breakout as Options Expiry Moves to Monday

The NIFTY is showing a potential breakout, possibly the start of an uptrend, but it is OVERBOUGHT: expect a pullback before a rally. Weekly...

Nico Rosti

Abercrombie & Fitch Quietly Built A Retail Empire — And Just Fired Its Biggest Growth Cannon Yet!

Abercrombie & Fitch Company delivered strong financial performance in the fourth quarter of fiscal year 2024, marking a successful turnaround...

Baptista Research

JD.com (9618 HK): Strategic Highlights and Market View from HKEX Top Trades

​Analysis of JD.com option strategies on HK Exchange: Bearish strategies dominate, long tail events with minimal upfront cost target significant...

Gaudenz Schneider

Target Corporation Paving The Way Forward With Digital Future With AI

Target Corporation's recent financial presentation unveiled a comprehensive roadmap for potential growth, positioned against the backdrop of a...

Baptista Research

Automobile Industry FY25: Expectations for Different Verticals

​Mixed performance expected in FY25 for automobile industry with strong growth in tractors, moderate increases in 2W’s and PV’s, and slight decline...

Nimish Maheshwari

NIFTY Outlook: Possible Breakout as Options Expiry Moves to Monday

The ​NIFTY is showing a potential breakout, possibly the start of an uptrend, but it is OVERBOUGHT: expect a pullback before a rally. Weekly...

Nico Rosti

Analysis of JD.com option strategies on HK Exchange: Bearish strategies dominate, long tail events with minimal upfront cost target significant...

Mixed performance expected in FY25 for automobile industry with strong growth in tractors, moderate increases in 2W’s and PV’s, and slight decline...

The NIFTY is showing a potential breakout, possibly the start of an uptrend, but it is OVERBOUGHT: expect a pullback before a rally. Weekly...