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

American Electric Power / Equity Bottom-Up

<ul><li>American Electric Power (AEP) reported its financial performance for the third quarter of 2024, revealing a solid standing in key areas while also addressing certain strategic and operational challenges.</li><li>The company reported third-quarter operating earnings of $1.85 per share, totaling $985 million, up from $1.77 per share or $924 million in the same quarter of the previous year.</li><li>This result demonstrates AEP's ability to generate stable earnings, supported primarily by its regulated utilities business.</li></ul>

American Electric Power (AEP) reported its financial performance for the third quarter of 2024, revealing a solid standing in key areas while also addressing certain strategic and operational challenges.The company reported third-quarter operating earnings of $1.85 per share, totaling $985 million, up from $1.77 per share or $924 million in the same quarter of the previous year.This result demonstrates AEP's ability to generate stable earnings, supported primarily by its regulated utilities business.

American Electric Power (AEP): An Analysis Of Its Capital Strategy

<ul><li>American Electric Power (AEP) reported its second-quarter 2024 results with several positive highlights and some areas of concern.</li><li>The company announced quarter earnings of $1.25 per share, marking a 12% increase over the previous year, driven by strategic execution and efficient management.</li><li>This performance has kept AEP on track to meet its full-year earnings guidance range of $5.53 to $5.73 per share, and its long-term earnings growth rate of 6% to 7%.</li></ul>

American Electric Power (AEP) reported its second-quarter 2024 results with several positive highlights and some areas of concern.The company announced quarter earnings of $1.25 per share, marking a 12% increase over the previous year, driven by strategic execution and efficient management.This performance has kept AEP on track to meet its full-year earnings guidance range of $5.53 to $5.73 per share, and its long-term earnings growth rate of 6% to 7%.

American Electric Power Company: 4 Reasons Why We Are Low On Optimism For The Stock! - Major Drivers

<ul><li>American Electric Power reported its first quarter earnings for 2024 with a blend of incremental growth and ongoing transformations within its operational and financial frameworks.</li><li>The report outlines the company's continuing commitment to increasing its capital spend which has included substantial investments into its transmission systems and resilience enhancements, particularly aimed at accommodating the growing demand from commercial sectors such as data centers.</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>

American Electric Power reported its first quarter earnings for 2024 with a blend of incremental growth and ongoing transformations within its operational and financial frameworks.The report outlines the company's continuing commitment to increasing its capital spend which has included substantial investments into its transmission systems and resilience enhancements, particularly aimed at accommodating the growing demand from commercial sectors such as data centers.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.

American Electric Power Company (AEP): Initiation Of Coverage - Does It Have A Sustainable Competitive Advantage? - Major Drivers

Founder, BWS Financial Inc

Hamed Khorsand

Founder

Independent Stock Specific Research

BWS Financial Inc

BWS provides independent stock specific research focused on companies with distinct value that are going through a special situation where there is a tangible catalyst not priced in. The catalyst can be anything from new product, restructuring, M&A, management change, change in business strategy, etc. BWS’s focus is to understand the change and evaluate the potential return for investors.

BWS utilizes a self formed proprietary approach in discovering stocks by putting great emphasis on deep research. BWS does generate short recommendations following a similar criteria.

<ul>
<li>TLNE has come under pressure after news of AEP and EXC protesting the power purchase agreement between TLNE and AWS. AEP and EXC are asking for a hearing by FERC</li>
<li>The process creates a headwind for TLNE and the timing of when, or if, the remaining $300M would be released in TLNE's agreement with AWS.  </li>
<li>The signal AEP and EXC are sending supports the long-term view on power supply. The power being diverted to AWS would put greater stress on the regulated power companies</li>
</ul>


TLNE has come under pressure after news of AEP and EXC protesting the power purchase agreement between TLNE and AWS. AEP and EXC are asking for a hearing by FERC
The process creates a headwind for TLNE and the timing of when, or if, the remaining $300M would be released in TLNE's agreement with AWS.  
The signal AEP and EXC are sending supports the long-term view on power supply. The power being diverted to AWS would put greater stress on the regulated power companies


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>While the market remains in consolidation/pullback mode and we are not out of the woods, it is possible that further downside is limited from here on the S&amp;P 500</li>
<li>Since late-February, we've discussed important gap support from 2/22/24 at 4983-5050 on the SPX, with bulls in control if above 4983. Selling last week has simply filled this gap</li>
<li>4920-4950 is now support near last week's lows. Downgrade: Technology (XLK) to market weight. Upgrades: Manufacturing/Industrials (XLI) to overweight and Utilities (XLU) to market weight; individual stock buys highlighted.</li>
</ul>


While the market remains in consolidation/pullback mode and we are not out of the woods, it is possible that further downside is limited from here on the S&amp;P 500
Since late-February, we've discussed important gap support from 2/22/24 at 4983-5050 on the SPX, with bulls in control if above 4983. Selling last week has simply filled this gap
4920-4950 is now support near last week's lows. Downgrade: Technology (XLK) to market weight. Upgrades: Manufacturing/Industrials (XLI) to overweight and Utilities (XLU) to market weight; individual stock buys highlighted.


Shifting Exposure From Growth to Value; Downgrading Technology; Upgrades: Manufacturing & Utilities

United States

American Electric Power Company, Inc.(AEP)is a public utility holding company. The Company provides electric service, consisting of generation, transmission and distribution, on an integrated basis to their retail customers. AEP serves portions of the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

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American Electric Power (AEP US)

American Electric Power (AEP): An Analysis Of Its Capital Strategy

American Electric Power (AEP) reported its financial performance for the third quarter of 2024, revealing a solid standing in key areas while also...

Baptista Research

American Electric Power Company: 4 Reasons Why We Are Low On Optimism For The Stock! - Major Drivers

American Electric Power (AEP) reported its second-quarter 2024 results with several positive highlights and some areas of concern. The company...

Baptista Research

American Electric Power Company (AEP): Initiation Of Coverage - Does It Have A Sustainable Competitive Advantage? - Major Drivers

American Electric Power reported its first quarter earnings for 2024 with a blend of incremental growth and ongoing transformations within its...

Baptista Research

TLNE: Protest Validates Long Thesis

We view this attempt to block the power purchase agreement between TLNE and AWS as a signal there is a power shortage issue several years down the...

BWS Financial Inc

Shifting Exposure From Growth to Value; Downgrading Technology; Upgrades: Manufacturing & Utilities

Shift Exposure From Growth to Value; Downgrading Tech to market weight $XLK; Upgrading Industrials $XLI to Overweight; Upgrading Utilities $XLU to...

Vermilion Research

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