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 Capital Markets

<ul><li>Apple has reported another strong financial performance with a strong growth in subscriptions.</li><li>Home and accessories, wearables, Mac, and iPhone, had a particularly strong performance over the past year.</li><li>With Apple silicon, leaps and bounds have been seen in efficiency and performance.</li></ul>

Apple has reported another strong financial performance with a strong growth in subscriptions.Home and accessories, wearables, Mac, and iPhone, had a particularly strong performance over the past year.With Apple silicon, leaps and bounds have been seen in efficiency and performance.

Apple Inc.: The M1 Ultra Upside & Other Drivers

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Zhejiang Leapmotor Technologie / Equity Capital Markets

<ul>
<li>Leapmotor (LM) aims to raise around US$1bn in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015.</li>
<li>It focuses on the mid- to high-end segment in China’s NEV market with a price range of RMB150,000-300,000. As of end FY21, it had delivered a total of 52,832 cars.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>


Leapmotor (LM) aims to raise around US$1bn in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015.
It focuses on the mid- to high-end segment in China’s NEV market with a price range of RMB150,000-300,000. As of end FY21, it had delivered a total of 52,832 cars.
In this note, we talk about the positive aspects of the deal.


Leapmotor Pre-IPO - The Positives - Planned Launches Should Prop up Growth

High Quality Stock Setups, Weekly Stock Bull Finder

Weekly Stock Bull Finder

High Quality Stock Setups

Finding high potential stock setups on quality companies

Thematic (Sector/Industry)

<ul><li>I mentioned a few weeks ago that the current market correction would likely begin to pickup speed when the mega caps like Apple and Microsoft began their corrections and re-rated lower below their 200 day moving averages like most of the Nasdaq index.</li><li>On Friday, we saw a significant bounce off extreme oversold conditions but many charts still need significant time to base and repair themselves.</li><li>If we are truly entering a new bear market, relief bounces like these will become common which is something investors likely haven’t seen in awhile after years of “buy the dip” bull market mentality was in full force.</li></ul>

I mentioned a few weeks ago that the current market correction would likely begin to pickup speed when the mega caps like Apple and Microsoft began their corrections and re-rated lower below their 200 day moving averages like most of the Nasdaq index.On Friday, we saw a significant bounce off extreme oversold conditions but many charts still need significant time to base and repair themselves.If we are truly entering a new bear market, relief bounces like these will become common which is something investors likely haven’t seen in awhile after years of “buy the dip” bull market mentality was in full force.

Life Insurance  of India / Equity Capital Markets

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>On the IPOs front, LIC's lists tomorrow, while Delhivery's bookbuild wasn't great.</li>
<li>There were no major placements this week, with even Air New Zealand failing to hold its deal price.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
On the IPOs front, LIC's lists tomorrow, while Delhivery's bookbuild wasn't great.
There were no major placements this week, with even Air New Zealand failing to hold its deal price.


ECM Weekly (15th May 22) - LIC, ThaiBev, Delhivery, One Store, Yunkang, VistaREIT, Ngern Tid Lor

Taiwan Tech Focused Senior Analyst

Patrick Liao

Equity Bottom-Up

Hon Hai Precision Industry / Equity Bottom-Up

<ul>
<li>Hon Hai's revenue was NT$1,408bn in 1Q22. We expect the OPM and EPS would be ~2.2% and ~NT$2.18 in 1Q22.</li>
<li>It's a gradually increase for end-product shipment in 2021, but we think it might be followed by a slower season in 2Q22.</li>
<li>Hon Hai's target is to address the profit in 2022. For 2022, we believe it could be the lowest revenue in 2Q22.</li>
</ul>


Hon Hai's revenue was NT$1,408bn in 1Q22. We expect the OPM and EPS would be ~2.2% and ~NT$2.18 in 1Q22.
It's a gradually increase for end-product shipment in 2021, but we think it might be followed by a slower season in 2Q22.
Hon Hai's target is to address the profit in 2022. For 2022, we believe it could be the lowest revenue in 2Q22.


Hon Hai (2317.TT): 1Q22 Preview/2Q22 Outlook- For 2022, It Could Be the Lowest Revenue in 2Q22.

United States

Apple Inc. designs, manufactures, and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related accessories. The Company also offers payment, digital content, cloud and advertising services. Apple Inc.'s customers are primarily in consumer, small & mid-sized business, education, enterprise and government markets worldwide.

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Apple (AAPL US)

Apple Inc.: The M1 Ultra Upside & Other Drivers

Apple has reported another strong financial performance with a strong growth in subscriptions. Home and accessories, wearables, Mac, and iPhone,...

Baptista Research

Leapmotor Pre-IPO - The Positives - Planned Launches Should Prop up Growth

Leapmotor (LM) aims to raise around US$1bn in its Hong Kong IPO. LM is a smart EV company based in China, founded in 2015. In this note, we will...

Sumeet Singh

Weekly Stock Bullfinder- Week of 5/16

I mentioned a few weeks ago that the current market correction would likely begin to pickup speed when the mega caps like Apple and Microsoft began...

Weekly Stock Bull Finder

ECM Weekly (15th May 22) - LIC, ThaiBev, Delhivery, One Store, Yunkang, VistaREIT, Ngern Tid Lor

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

Hon Hai (2317.TT): 1Q22 Preview/2Q22 Outlook- For 2022, It Could Be the Lowest Revenue in 2Q22.

Hon Hai's revenue was NT$1,408bn in 1Q22. We expect the OPM and EPS would be ~2.2% and ~NT$2.18 in 1Q22. We think it might be followed a slower...

Patrick Liao

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