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

<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!

Equity Research Focusing on the Consumer Sector, Small Cap Consumer Research

Small Cap Consumer Research

Equity Research Focusing on the Consumer Sector

Small Cap Consumer Research, LLC is a leading company-sponsored equity research provider focusing on the consumer sector (apparel, brand licensing and specialty retailing segments).

<ul><li>We are reiterating our Buy rating and $30 price target for a.k.a. Brands after the company registered slight upside to their already raised 4Q guidance and rolled out initial 2025 guidance which was above consensus on the top line and bracketed EBITDA projections.</li><li>Management also announced they would more than double the Princess Polly domestic store base in 2025 and  Princess Polly and Petal & Pup will be wholesaled in all Nordstrom doors this month.</li><li>With Culture Kings also on the upswing and the Australia/New Zealand market nearing a return to growth, we believe a.k.a. Brands is becoming an even more compelling multi-year omnichannel growth story, and we reiterate our Buy rating and $30 price target.</li></ul>

We are reiterating our Buy rating and $30 price target for a.k.a. Brands after the company registered slight upside to their already raised 4Q guidance and rolled out initial 2025 guidance which was above consensus on the top line and bracketed EBITDA projections.Management also announced they would more than double the Princess Polly domestic store base in 2025 and  Princess Polly and Petal & Pup will be wholesaled in all Nordstrom doors this month.With Culture Kings also on the upswing and the Australia/New Zealand market nearing a return to growth, we believe a.k.a. Brands is becoming an even more compelling multi-year omnichannel growth story, and we reiterate our Buy rating and $30 price target.

AKA: 4Q Review: Continuing to Win in Multiple Channels; Reiterate Buy, $30 PT

<ul><li>We are reiterating our Buy rating, $30 price target and projections with the company announcing 4Q24 (December) results after the close on Thursday.</li><li>We believe, after opening multiple Princess Polly stores before the Holiday season, expanding into Nordstrom with Petal & Pup and Princess Polly and rolling out a new inventory system at Culture Kings, a.k.a. Brands is poised for a strong 4Q (inline or slightly above, the January update) and, with many initiatives set to be fully anniversaried in 2025, we look for a solid initial annual guide.</li><li>Further, with the NYC flagship poised to open in two weeks, and more Princess Polly owned store openings on the horizon, we believe a.k.a. Brands is poised for multi-year growth as a true omnichannel retailer.</li></ul>

We are reiterating our Buy rating, $30 price target and projections with the company announcing 4Q24 (December) results after the close on Thursday.We believe, after opening multiple Princess Polly stores before the Holiday season, expanding into Nordstrom with Petal & Pup and Princess Polly and rolling out a new inventory system at Culture Kings, a.k.a. Brands is poised for a strong 4Q (inline or slightly above, the January update) and, with many initiatives set to be fully anniversaried in 2025, we look for a solid initial annual guide.Further, with the NYC flagship poised to open in two weeks, and more Princess Polly owned store openings on the horizon, we believe a.k.a. Brands is poised for multi-year growth as a true omnichannel retailer.

Abercrombie & Fitch Co Cl A - AKA: 4Q Preview: Gliding Into a Momentous 2025; Reiterate Buy, PT

<ul><li>We are reiterating our Buy rating and $30 price target and raising our projections for a.k.a. Brands after the company updated 4Q24 guidance, removed the interim title from CEO Ciaran Long, announced the expansion of Petal & Pup into all Nordstrom doors, and presented at the ICR Conference.</li><li>With the majority of the 4Q upside catalysts flowing into 2025, the company on track to launch their first New York City store in 1H25 and the potential for stabilization in the still significant Australian market, we believe our slightly raised 2025 projections remain conservative, and we reiterate or Buy rating and $30 price target for AKA.</li></ul>

We are reiterating our Buy rating and $30 price target and raising our projections for a.k.a. Brands after the company updated 4Q24 guidance, removed the interim title from CEO Ciaran Long, announced the expansion of Petal & Pup into all Nordstrom doors, and presented at the ICR Conference.With the majority of the 4Q upside catalysts flowing into 2025, the company on track to launch their first New York City store in 1H25 and the potential for stabilization in the still significant Australian market, we believe our slightly raised 2025 projections remain conservative, and we reiterate or Buy rating and $30 price target for AKA.

AKA: ICR Conference Notes: A Holiday Winner; Raising Projections, Reiterate Buy

<ul><li>We are reiterating our Buy rating, $30 price targe and projections for a.k.a. Brands as we look forward to 2025.</li><li>2024 was a year of multiple material positives for the company, many of which we believe will also drive 2025 growth.</li><li>Further, we believe a.k.a. Brands, as it continues to shift into a key domestic lifestyle leader, has the potential to drive both top line and bottom line upside as the company further leverages the retail, online marketplace expansion and wholesale channels, becoming a true omnichannel player.</li></ul>

We are reiterating our Buy rating, $30 price targe and projections for a.k.a. Brands as we look forward to 2025.2024 was a year of multiple material positives for the company, many of which we believe will also drive 2025 growth.Further, we believe a.k.a. Brands, as it continues to shift into a key domestic lifestyle leader, has the potential to drive both top line and bottom line upside as the company further leverages the retail, online marketplace expansion and wholesale channels, becoming a true omnichannel player.

Abercrombie & Fitch Co Cl A - AKA: 2025 Signposts: Moving to the Next Gear; Reiterate Buy, $30 PT

United States

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.

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Abercrombie & Fitch Co Cl A (ANF US)

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

AKA: 4Q Review: Continuing to Win in Multiple Channels; Reiterate Buy, $30 PT

We are reiterating our Buy rating and $30 price target for a.k.a. Brands after the company registered slight upside to their already raised 4Q...

Small Cap Consumer Research

Abercrombie & Fitch Co Cl A - AKA: 4Q Preview: Gliding Into a Momentous 2025; Reiterate Buy, PT

We are reiterating our Buy rating, $30 price target and projections with the company announcing 4Q24 (December) results after the close on...

Small Cap Consumer Research

AKA: ICR Conference Notes: A Holiday Winner; Raising Projections, Reiterate Buy

We are reiterating our Buy rating and $30 price target and raising our projections for a.k.a. Brands after the company updated 4Q24 guidance,...

Small Cap Consumer Research

Abercrombie & Fitch Co Cl A - AKA: 2025 Signposts: Moving to the Next Gear; Reiterate Buy, $30 PT

We are reiterating our Buy rating, $30 price targe and projections for a.k.a. Brands as we look forward to 2025. 2024 was a year of multiple...

Small Cap Consumer Research

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