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>AutoNation reported its first quarter 2024 results, indicating an overall steady performance amidst various market dynamics.</li><li>There was robust consumer demand for vehicles leading to the first quarterly increase in both new and used vehicle sales since the second quarter of 2021.</li><li>New vehicle unit sales grew by 7%, and while the average selling price decreased by 5%, revenue from new vehicles rose by 2%.</li></ul>

AutoNation reported its first quarter 2024 results, indicating an overall steady performance amidst various market dynamics.There was robust consumer demand for vehicles leading to the first quarterly increase in both new and used vehicle sales since the second quarter of 2021.New vehicle unit sales grew by 7%, and while the average selling price decreased by 5%, revenue from new vehicles rose by 2%.

AutoNation Inc.: Proliferation of AutoNation Finance & Strategic Capital Allocation & Key Growth Drivers

External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

<ul><li>AutoNation has consistently maintained profitability, even during economic downturns</li><li>F&amp;I business has grown significantly, increasing contribution to overall profits</li><li>Good capital allocation decisions have boosted economic returns</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

AutoNation has consistently maintained profitability, even during economic downturnsF&amp;I business has grown significantly, increasing contribution to overall profitsGood capital allocation decisions have boosted economic returnsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Autonation Inc (AN) - Thursday, Mar 14, 2024

<ul><li>This is our first report on automotive retail major, AutoNation Inc. The company reported strong growth figures in its fourth quarter earnings call of 2023, with particularly robust demand for new vehicles.</li><li>New vehicle revenue increased 7% while unit sales were up 8%, driven by strong Import growth and an uptick in Premium Luxury sales.</li><li>AutoNation also experienced an increase in new vehicle inventory levels that are projected to continue growing in 2024.</li></ul>

This is our first report on automotive retail major, AutoNation Inc. The company reported strong growth figures in its fourth quarter earnings call of 2023, with particularly robust demand for new vehicles.New vehicle revenue increased 7% while unit sales were up 8%, driven by strong Import growth and an uptick in Premium Luxury sales.AutoNation also experienced an increase in new vehicle inventory levels that are projected to continue growing in 2024.

Autonation Inc.: Initiation Of Coverage - What Is Their Core Business Strategy? - Major Drivers

Analyst

Steve Zhou, CFA

<ul>
<li>
<a href="https://www.smartkarma.com/entities/china-meidong-auto-holdings-limited" target="_blank" data-smartkarma-citation="entities:10795:1" rel="noopener">China MeiDong Auto (1268 HK)</a> announced a profit warning this morning, expecting a 90% decline in net profit for 1H23.  </li>
<li>Luxury auto dealer in China is facing major uncertainties in its business model, with no visibility in the near term.  </li>
<li>However, <a href="https://www.smartkarma.com/entities/zhongsheng-group-holdings" target="_blank" data-smartkarma-citation="entities:10573:1" rel="noopener">Zhongsheng Group (881 HK)</a> currently employs the best long-term strategy amidst industry transformation.  Suggest to keep a close eye on the name. </li>
</ul>



China MeiDong Auto (1268 HK) announced a profit warning this morning, expecting a 90% decline in net profit for 1H23.  
Luxury auto dealer in China is facing major uncertainties in its business model, with no visibility in the near term.  
However, Zhongsheng Group (881 HK) currently employs the best long-term strategy amidst industry transformation.  Suggest to keep a close eye on the name. 


Zhongsheng Group (881 HK):  Could Be A Winner In The Long Run, But No Short-Term Visibility

Top 10 Mega Caps | Artificial Intelligence, Mint Finance

Uttkarsh Kohli

Top 10 Mega Caps | Artificial Intelligence

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>Google's ad revenue growth consensus is 11.7% YoY in Q2, with some analysts projecting even higher, reflecting robust global digital ad spend trends.</li>
<li>Google Cloud's revenue reached $9.5 billion in Q1 2024, marking a 35% YoY increase and a 4x growth over the past four years. Q2 expected to see continued growth. </li>
<li>AI investments and innovations showcased at Google I/O aim to boost user experience and market leadership, with potential double-digit growth.</li>
</ul>


Google's ad revenue growth consensus is 11.7% YoY in Q2, with some analysts projecting even higher, reflecting robust global digital ad spend trends.
Google Cloud's revenue reached $9.5 billion in Q1 2024, marking a 35% YoY increase and a 4x growth over the past four years. Q2 expected to see continued growth. 
AI investments and innovations showcased at Google I/O aim to boost user experience and market leadership, with potential double-digit growth.


[Q2 Earnings Preview] Google: Ad Revenue & Cloud Growth Plus AI Advancements in Focus

United States

AutoNation, Inc. retails, finances, and services new and used vehicles.  The Company also provides other related services and products, such as the sale of parts and accessories, extended service contracts, aftermarket automotive products, and collision repair services.  AutoNation operates throughout the United States.

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Autonation Inc (AN US)

AutoNation Inc.: Proliferation of AutoNation Finance & Strategic Capital Allocation & Key Growth Drivers

AutoNation reported its first quarter 2024 results, indicating an overall steady performance amidst various market dynamics. There was robust...

Baptista Research

Autonation Inc (AN) - Thursday, Mar 14, 2024

AutoNation has consistently maintained profitability, even during economic downturns. F&I business has grown significantly, increasing contribution...

Value Investors Club

Autonation Inc.: Initiation Of Coverage - What Is Their Core Business Strategy? - Major Drivers

This is our first report on automotive retail major, AutoNation Inc. The company reported strong growth figures in its fourth quarter earnings...

Baptista Research

Zhongsheng Group (881 HK): Could Be A Winner In The Long Run, But No Short-Term Visibility

Meidong profit warning. Luxury auto dealer's business model in China is facing major uncertainties, with no visibility in the near term.

Steve Zhou, CFA

[Q2 Earnings Preview] Google: Ad Revenue & Cloud Growth Plus AI Advancements in Focus

Google's Q2 earnings on 23/Jul will focus on projected 11.7% ad revenue growth, cloud earnings & AI innovations. Key acquisitions highlight...

Mint Finance

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