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>The Boeing Company's Q1 2024 marked an important moment for investors, as management focused primarily on the actions taken post the Alaska Airlines accident in January.</li><li>Boeing CEO, Dave Calhoun, emphatically underscored the company's commitment to quality and safety measures.</li><li>The company has improved its production protocols and gone beyond compliance with the FAA directives, working towards an Embedded Quality Action Plan.</li></ul>

The Boeing Company's Q1 2024 marked an important moment for investors, as management focused primarily on the actions taken post the Alaska Airlines accident in January.Boeing CEO, Dave Calhoun, emphatically underscored the company's commitment to quality and safety measures.The company has improved its production protocols and gone beyond compliance with the FAA directives, working towards an Embedded Quality Action Plan.

The Boeing Company: Will The Strategic Acquisition of Spirit Pay Off? - Major Drivers

Podcast by Joe Weisenthal & Tracy Alloway, Odd Lots

Odd Lots

Podcast by Joe Weisenthal & Tracy Alloway

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

<ul><li>Boeing shares are down 20% since the start of the year, despite a booming global market for aviation</li><li>Boeing's focus on financial performance and stock price over safety and engineering has been a concern</li><li>The current CEO David Calhoun dissolved the company's strategy department, raising questions about Boeing's future direction and decision-making strategies</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.</em></p>

Boeing shares are down 20% since the start of the year, despite a booming global market for aviationBoeing's focus on financial performance and stock price over safety and engineering has been a concernThe current CEO David Calhoun dissolved the company's strategy department, raising questions about Boeing's future direction and decision-making strategiesThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

A Longtime Aerospace Analyst Questions Boeing's Future

<ul><li>Boeing's latest earnings call revealed both promising prospects and notable challenges for the company.</li><li>David Calhoun, Boeing's President and Chief Executive Officer, acknowledged the grounding of the 737 MAX 9 due to a recent accident and assured stakeholders of ongoing actions to strengthen quality and regain customer confidence.</li><li>On the positive side, the Federal Aviation Administration (FAA) has approved the detailed inspection protocol for the 737-9, which is being returned to service.</li></ul>

Boeing's latest earnings call revealed both promising prospects and notable challenges for the company.David Calhoun, Boeing's President and Chief Executive Officer, acknowledged the grounding of the 737 MAX 9 due to a recent accident and assured stakeholders of ongoing actions to strengthen quality and regain customer confidence.On the positive side, the Federal Aviation Administration (FAA) has approved the detailed inspection protocol for the 737-9, which is being returned to service.

The Boeing Co: Improved Performance of Boeing Global Services (BGS) Saving The Day? - Major Drivers

Investing, Fraud and Fun with Language Models, Bedrock AI

Bedrock AI

Investing, Fraud and Fun with Language Models

Bedrock AI is a web-based equity research portal. Our software extracts red flags from SEC filings that are predictive of downside risk. Explore real-time analysis of annual and quarterly statements, 8-Ks, prospectuses, SEC comment letters and more for over 7,000 tickers. Analysis is served without human intervention. Quantamental investing is transforming the way investors see the world.

<ul>
<li>Now that the U.S Big 4 airlines have all reported their earnings, let’s look at some of the key trends underpinning the airline industry this quarter.</li>
<li>The industry continues to be marred by several macro trends, including a triple whammy of inflation-driven increasing maintenance and labor costs, supply chain issues, and the unreliability of a major supplier (Boeing).</li>
<li>Boeing’s perennial woes seemed to be a major point of discussion as every Big 4 airline faced an analyst question about it during their earnings calls.</li>
</ul>


Now that the U.S Big 4 airlines have all reported their earnings, let’s look at some of the key trends underpinning the airline industry this quarter.
The industry continues to be marred by several macro trends, including a triple whammy of inflation-driven increasing maintenance and labor costs, supply chain issues, and the unreliability of a major supplier (Boeing).
Boeing’s perennial woes seemed to be a major point of discussion as every Big 4 airline faced an analyst question about it during their earnings calls.


Boeing Exposure and Q4 Trends Impacting the Airline Industry

European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

Spirit Aerosystems Holdings, Inc / Event-Driven

<ul>
<li>On July 1, <a href="https://www.smartkarma.com/entities/boeing-co" target="_blank" data-smartkarma-citation="entities:11957:1" rel="noopener">Boeing Co (BA US)</a> announced a definitive agreement to acquire <a href="https://www.smartkarma.com/entities/spirit-aerosystems-holdings-inc" target="_blank" data-smartkarma-citation="entities:19869:1" rel="noopener">Spirit Aerosystems Holdings, Inc (SPR US)</a> in an expected all-share deal valued at c.$4.7 billion, or $37.25/share.</li>
<li>Consideration is calculated using a floating exchange ratio ($37.25 divided by 15-day VWAP) with a collar. 0.20466 using Boeing's last closing share price, which implies 3.9% dilution for Boeing's shareholders.</li>
<li>The offer price is 6.4% above consensus price target median ($35), and reasonable, reflecting some control premium. The valuation represents 10.1x EV/2025 EBITDA based on IBES estimates. Long spread.</li>
</ul>


On July 1, Boeing Co (BA US) announced a definitive agreement to acquire Spirit Aerosystems Holdings, Inc (SPR US) in an expected all-share deal valued at c.$4.7 billion, or $37.25/share.
Consideration is calculated using a floating exchange ratio ($37.25 divided by 15-day VWAP) with a collar. 0.20466 using Boeing's last closing share price, which implies 3.9% dilution for Boeing's shareholders.
The offer price is 6.4% above consensus price target median ($35), and reasonable, reflecting some control premium. The valuation represents 10.1x EV/2025 EBITDA based on IBES estimates. Long spread.


Boeing/Spirit AeroSystems: All-Stock Deal

United States

The Boeing Company, together with its subsidiaries, develops, produces, and markets commercial jet aircraft, as well as provides related support services to the commercial airline industry worldwide.  The Company also researches, develops, produces, modifies, and supports information, space, and defense systems, including military aircraft, helicopters and space and missile systems.

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Boeing Co (BA US)

The Boeing Company: Will The Strategic Acquisition of Spirit Pay Off? - Major Drivers

The Boeing Company's Q1 2024 marked an important moment for investors, as management focused primarily on the actions taken post the Alaska...

Baptista Research

A Longtime Aerospace Analyst Questions Boeing's Future

The current CEO David Calhoun dissolved the company's strategy department, raising questions about Boeing's future direction and decision-making...

Odd Lots

The Boeing Co: Improved Performance of Boeing Global Services (BGS) Saving The Day? - Major Drivers

Boeing's latest earnings call revealed both promising prospects and notable challenges for the company. David Calhoun, Boeing's President and...

Baptista Research

Boeing Exposure and Q4 Trends Impacting the Airline Industry

Now that the U.S Big 4 airlines have all reported their earnings, let’s look at some of the key trends underpinning the airline industry this quarter.

Bedrock AI

Boeing/Spirit AeroSystems: All-Stock Deal

Boeing announces $4.7 billion acquisition of Spirit Aerosystems, offering $37.25/share in all-share deal with 3.9% dilution for Boeing...

Jesus Rodriguez Aguilar

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Boeing Company: Will The Strategic Acquisition of Spirit Pay Off? - Major Drivers

The Boeing Company's Q1 2024 marked an important moment for investors, as management focused primarily on the actions taken post the Alaska...

Baptista Research

A Longtime Aerospace Analyst Questions Boeing's Future

The current CEO David Calhoun dissolved the company's strategy department, raising questions about Boeing's future direction and decision-making...

Odd Lots

The Boeing Co: Improved Performance of Boeing Global Services (BGS) Saving The Day? - Major Drivers

Boeing's latest earnings call revealed both promising prospects and notable challenges for the company. David Calhoun, Boeing's President and...

Baptista Research

Boeing Exposure and Q4 Trends Impacting the Airline Industry

Now that the U.S Big 4 airlines have all reported their earnings, let’s look at some of the key trends underpinning the airline industry this quarter.

Bedrock AI

Boeing/Spirit AeroSystems: All-Stock Deal

​Boeing announces $4.7 billion acquisition of Spirit Aerosystems, offering $37.25/share in all-share deal with 3.9% dilution for Boeing...

Jesus Rodriguez Aguilar

Boeing announces $4.7 billion acquisition of Spirit Aerosystems, offering $37.25/share in all-share deal with 3.9% dilution for Boeing...