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

<ul><li>Alcoa delivered a solid result and managed an all-around beat in the last quarter.</li><li>The company had a mixed last quarter and reported slightly higher revenue and increased shipments but experienced challenges due to market conditions.</li><li>Despite lower alumina and aluminum prices, they improved net loss due to the nonrecurrence of specific charges.</li></ul>

Alcoa delivered a solid result and managed an all-around beat in the last quarter.The company had a mixed last quarter and reported slightly higher revenue and increased shipments but experienced challenges due to market conditions.Despite lower alumina and aluminum prices, they improved net loss due to the nonrecurrence of specific charges.

Alcoa Corp: New Carbon Capture Technology & Other Developments

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Amman Mineral Internasional / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/amman-mineral-internasional-pt" target="_blank" data-smartkarma-citation="entities:39838:1" rel="noopener">Amman Mineral Internasional (1416286D IJ)</a>, an Indonesian copper-gold producer, has launched an IDX IPO to raise US$860 million. Bookbuilding runs from 31 May to 16 June.</li>
<li>Amman’s Batu Hijau mine when combined with the Elang project has the fifth largest copper equivalent reserves in the world, according to Wood Mackenzie.</li>
<li>The key elements of the investment case rest on world-class reserves, credible development plans, solid top-line growth, high profitability, leading cost competitiveness and cash generation.</li>
</ul>



Amman Mineral Internasional (1416286D IJ), an Indonesian copper-gold producer, has launched an IDX IPO to raise US$860 million. Bookbuilding runs from 31 May to 16 June.
Amman’s Batu Hijau mine when combined with the Elang project has the fifth largest copper equivalent reserves in the world, according to Wood Mackenzie.
The key elements of the investment case rest on world-class reserves, credible development plans, solid top-line growth, high profitability, leading cost competitiveness and cash generation.


Amman Mineral Internasional IPO: The Investment Case

<ul><li>AlcAlcoa Corporation's first quarter of 2023 was a disaster as the company failed to meet the revenue expectations of Wall Street and delivered wider-than-expected losses.</li><li>Its revenues remained flat at $2.7 billion on lower shipments, realized prices were higher for both aluminum and alumina, with aluminum up 7% and alumina up 8% sequentially.</li><li>Besides, Alcoa announced the addition of some grades of non-metallurgical alumina to the company's EcoSource low-carbon alumina brand.</li></ul>

AlcAlcoa Corporation's first quarter of 2023 was a disaster as the company failed to meet the revenue expectations of Wall Street and delivered wider-than-expected losses.Its revenues remained flat at $2.7 billion on lower shipments, realized prices were higher for both aluminum and alumina, with aluminum up 7% and alumina up 8% sequentially.Besides, Alcoa announced the addition of some grades of non-metallurgical alumina to the company's EcoSource low-carbon alumina brand.

Alcoa Corporation: Expansion of EcoSource Low-carbon Alumina Brand & Other Drivers

<ul><li>Alcoa made progress in 2022 with strategic capacity restarts and efforts to lessen the effects of high energy prices.</li><li>Global events impacted the price of energy and raw commodities.</li><li>The company successfully finished the safe restart of its Portland Aluminum Joint Venture smelter in the Australian state of Victoria.</li></ul>

Alcoa made progress in 2022 with strategic capacity restarts and efforts to lessen the effects of high energy prices.Global events impacted the price of energy and raw commodities.The company successfully finished the safe restart of its Portland Aluminum Joint Venture smelter in the Australian state of Victoria.

Alcoa Corp: New Brazil Facility & Other Developments

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We currently see the market indexes as consolidating within broad horizontal trading ranges, and we expect these ranges to continue for months, and quite possibly for the entirety of 2023.</li>
<li>We see the top-end of the range at 4100-4165 on the S&amp;P 500, while the bottom-end is at the 2022 lows (3490).</li>
<li>With yesterday's break above 3910 it tells us a tradable rally has begun, with 4100-4165 our target</li>
</ul>


We currently see the market indexes as consolidating within broad horizontal trading ranges, and we expect these ranges to continue for months, and quite possibly for the entirety of 2023.
We see the top-end of the range at 4100-4165 on the S&amp;P 500, while the bottom-end is at the 2022 lows (3490).
With yesterday's break above 3910 it tells us a tradable rally has begun, with 4100-4165 our target


Awaiting CPI Thursday; Expect 4100-4165 SPX to Cap Upside; Buy Ideas Within Gold Miners, Insurance

United States

Alcoa Corporation manufactures metal products. The Company produces and sells bauxite, alumina, and aluminum products. Alcoa serves aluminum industry worldwide.

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Alcoa (AA US)

Alcoa Corp: New Carbon Capture Technology & Other Developments

Alcoa delivered a solid result and managed an all-around beat in the last quarter. The company had a mixed last quarter and reported slightly...

Baptista Research

Amman Mineral Internasional IPO: The Investment Case

The key elements of the investment case rest on world-class reserves, credible development plans, solid top-line growth, high profitability,...

Arun George

Alcoa Corporation: Expansion of EcoSource Low-carbon Alumina Brand & Other Drivers

AlcAlcoa Corporation's first quarter of 2023 was a disaster as the company failed to meet the revenue expectations of Wall Street and delivered...

Baptista Research

Alcoa Corp: New Brazil Facility & Other Developments

Alcoa made progress in 2022 with strategic capacity restarts and efforts to lessen the effects of high energy prices. Global events impacted the...

Baptista Research

Awaiting CPI Thursday; Expect 4100-4165 SPX to Cap Upside; Buy Ideas Within Gold Miners, Insurance

With yesterday's break above 3910 in $SPX we see a tradable rally, but 4100-4165 is likely to cap upside; reduce risk into that area. Buy ideas...

Vermilion Research

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