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>Boise Cascade's first quarter of 2024 shows a balance of strengths and areas of concern reflecting the complex dynamics in the wood products and building materials markets.</li><li>Starting with the positives, Boise Cascade reported a revenue increase of 7% reaching $1.6 billion, coupled with a rise in net income to $104.1 million, up from $96.7 million in the prior year.</li><li>The firm's earnings per share also increased, reaching $2.61 compared to $2.43 in the previous year, primarily driven by a notable upswing in single-family housing starts which grew by 27%.</li></ul>

Boise Cascade's first quarter of 2024 shows a balance of strengths and areas of concern reflecting the complex dynamics in the wood products and building materials markets.Starting with the positives, Boise Cascade reported a revenue increase of 7% reaching $1.6 billion, coupled with a rise in net income to $104.1 million, up from $96.7 million in the prior year.The firm's earnings per share also increased, reaching $2.61 compared to $2.43 in the previous year, primarily driven by a notable upswing in single-family housing starts which grew by 27%.

Boise Cascade Company: Will The Heightened Focus on Repair and Remodel (R&R) Market Pay Off? - Major Drivers

<ul>
<li>This is our first report on building and wooden products producer, Boise Cascade.</li>
<li>The company, which operates in the building materials and wood products sectors, reported full-year net income of $483.7 million or $12.12 per diluted share on sales of $6.8 billion.</li>
<li>This showcase of profitability came along with successful execution of the company's growth strategy with a mix of organic and acquisition initiatives.</li>
</ul>


This is our first report on building and wooden products producer, Boise Cascade.
The company, which operates in the building materials and wood products sectors, reported full-year net income of $483.7 million or $12.12 per diluted share on sales of $6.8 billion.
This showcase of profitability came along with successful execution of the company's growth strategy with a mix of organic and acquisition initiatives.


Boise Cascade Corporation: These 4 Pivotal Factors Are Needle-Movers For Its Stock In 2024 & Beyond!

Cross-Asset Strategist & Quantitative Analyst, Pennock Idea Hub

Cam Hui

Cross-Asset Strategist & Quantitative Analyst

Pennock Idea Hub

We are creators of independent equity research. The Pennock Idea Hub team are veterans of the investment industry. Much of our team has spent their careers at Merrill Lynch, Deutsche Bank, RBC Capital Markets and Wood Gundy. We have taken every aspect of research back to the studs and returned to first principles. The Pennock Idea Hub marries the interests of the sell and buy side. 

We offer the best research for institutional investors by:

-Only publishing research from veteran analysts
-Eliminate the inherent conflicts of the traditional sell and buy side relationship
-Ensure our team is always accessible; collaboration with clients nurtures our collective success

Cross-Asset & Quantitative Research

Cross Asset Strategy

<ul>
<li>A bottom-up driven scan of stock charts shows over 29 stocks with bullish technical patterns consisting of uptrends or breakouts from multi-month bases with strong potential upsides.</li>
<li>Bullish patterns are broadly based, primarily concentrated in technology and cyclicals, which argue for a continuation of the AI-related bull and an economic rebound.</li>
<li>This bottom-up analysis also pointed to bullish macro conclusions about the economy.</li>
</ul>


A bottom-up driven scan of stock charts shows over 29 stocks with bullish technical patterns consisting of uptrends or breakouts from multi-month bases with strong potential upsides.
Bullish patterns are broadly based, primarily concentrated in technology and cyclicals, which argue for a continuation of the AI-related bull and an economic rebound.
This bottom-up analysis also pointed to bullish macro conclusions about the economy.


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

iShares Russell 2000 ETF / Technical Analysis

<ul>
<li>The market continues to send mixed signals - some neutral or healthy signals but some risk-off signals as well.</li>
<li>As long as the Russell 2000 index (IWM) is above $208, Russell Micro Cap index (IWC) is above $134-$135, and the S&amp;P 500 is above 4495, we cannot be bearish.</li>
<li>Treasury yields are not breaking down below 1.40%-1.45% support on the 10-year Treasury yield and 1.76% support on the 30-year Treasury yield.</li>
</ul>


The market continues to send mixed signals - some neutral or healthy signals but some risk-off signals as well.
As long as the Russell 2000 index (IWM) is above $208, Russell Micro Cap index (IWC) is above $134-$135, and the S&amp;P 500 is above 4495, we cannot be bearish.
Treasury yields are not breaking down below 1.40%-1.45% support on the 10-year Treasury yield and 1.76% support on the 30-year Treasury yield.


Continued Absence Of Breakdowns Is A Positive Sign; Many Bottoms-Up Stock Recommendations

<p>We have said it before and we will say it again; new highs are not a sell signal. This time we are referring to the S&amp;P 500 which is breaking out to all-time highs (above the prior February highs), something we have been able to say about the Nasdaq 100 for over two months. Breadth remains <em>constructive</em> for small- and large-caps and yesterday’s price action appears to be the start of yet another rotation into cyclical value/”reopening” plays. Our outlook remains bullish and we believe the path of least resistance remains higher. In today’s report we highlight attractive Groups and stocks within Materials &amp; Technology.</p>

We have said it before and we will say it again; new highs are not a sell signal. This time we are referring to the S&amp;P 500 which is breaking out to all-time highs (above the prior February highs), something we have been able to say about the Nasdaq 100 for over two months. Breadth remains constructive for small- and large-caps and yesterday’s price action appears to be the start of yet another rotation into cyclical value/”reopening” plays. Our outlook remains bullish and we believe the path of least resistance remains higher. In today’s report we highlight attractive Groups and stocks within Materials &amp; Technology.

U.S. Equity Strategy: All-Time Highs Are Not a Sell Signal

United States

Louisiana-Pacific Corporation manufactures building materials and engineered wood products in the United States, Canada, Chile, and Brazil.  The Company's products are used by homebuilders and light commercial builders. Louisiana Pacific's products include oriented strand board sheathing, flooring, radiant barrier panels,  siding and trim, I-joists, and laminated veneer lumber.

Clearwater Paper Corp. manufactures consumer tissue, bleached paperboard, and wood products.  The Company supplies private label tissue to major retail grocery chains and produces bleached paperboard that is used by printers and packaging converters.

Huntsman Corporation manufactures differentiated and commodity chemical products.  The Company markets a broad range of chemical products and formulations to a diversified group of consumer and industrial customers. Huntsman's products are used in a range of applications, including those in adhesives, aerospace, automotive, construction products, and consumer products.

Sealed Air Corporation manufactures packaging and performance-based materials and equipment systems that serve food, industrial, medical, and consumer applications.

Balchem Corporation develops, manufactures, and markets specialty performance ingredients for the food, feed, and medical sterilization industries. The Company micro-encapsulates performance ingredients, and also repackages and markets specialty gases. Balchem sells its products through its own sales force, independent distributors, and sales agents.

Hecla Mining Company explores, develops, and mines precious metals, gold and silver.  The Company has operations in the United States and Mexico.

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

Greif Inc. manufactures and markets industrial packaging products and services. The Company provides steel, plastic, fiber, corrugated and multiwall containers. Greif also produces containerboard and has operations nationwide.

Ashland Global Holdings Inc. operates as a holding company. The Company, through its subsidiaries, produces and distributes chemicals and thermoplastic resins. Ashland Global Holdings serves construction, automotive, energy, and pharmaceutical sectors worldwide.

NewMarket Corporation develops, manufactures, and blends fuel and lubricant additives marketed worldwide to refiners and others who sell petroleum products. The Company's products are used in transportation and industrial equipment.

Shandong Sunpaper Co., Ltd. produces and distributes paper and paperboard. The company's major products include coated paperboard, raw paper, and fine paper used in office environment.

Oji Holdings Corp manufactures paper, pulp, and processed paper goods, including news print, carbonless paper, wrapping and packaging paper, and paperboard. The Company also produces sanitary paper goods such as disposable diapers. Oji Paper has forests in Japan and overseas, and operates forestry, timber sales, and real estate businesses.

West Fraser Timber Co. Ltd. produces dimension lumber and related wood products, fiberboard, pulp, linerboard, kraft paper, and newsprint.  The Company has operations in British Columbia, Alberta and in the southern United States.

Stella-Jones Inc. produces and markets industrial structures and support components produced with pressure treated wood.  The Company specializes in the production of treated wood poles supplied to electrical utilities and telecommunications companies.  Stella-Jones's other products include railway ties as well as marine and foundation pilings.

Empresas CMPC S.A. manufactures and markets wood and forest products.  The Company produces cellulose, graphic papers, cardboard, tissue paper, office paper, newsprint, and packaging materials.  CMPC is based in Chile and, through subsidiaries, markets its products in Latin America, North America, Europe, and Asia.

PT Indah Kiat Pulp & Paper Corporation Tbk operates a pulp and paper mill located in Perawang, a paper mill in Tangerang, and a packaging product mill in Serang. The Company manufactures various types of printing and writing paper including coated and uncoated free-sheets, photo copy paper, packaging container boards, corrugated shipping containers, and boxboards.

Metsa Board OYJ is a producer of fresh forest fibre cartonboards, a manufacturer of coated white-top kraftliners and a paper supplier. The Company offers solutions for consumer and retail packaging, graphics and office end-uses. Metsa's global sales network serves brand owners, carton printers, corrugated packaging manufacturers, printers, merchants and office suppliers.

Nine Dragons Paper Holdings Limited produces a wide range of containerboard products. The Company primarily produces linerboard, including kraft linerboard, test linerboard, white top linerboard, high performance corrugating medium and coated duplex board.

YFY Inc. manufactures and sells paper pulp and various paper products.

Pabrik Kertas Tjiwi Kimia Tbk operates a pulp and paper factory in East Java which manufactures a range of printing and writing papers, both coated and uncoated. The Company also produces stationery and office products such as notebooks, writing pads, loose leaf, spirals, envelopes, computer forms, gift wraps, inkjet paper, and carbonless paper.

Boise Cascade Company manufactures and markets wood products. The Company offers lumber, plywood, engineered wood, and particleboard, as well as adhesive sealants, concrete, fasteners, flashing, vents, framing accessories, gypsum, insulating, locks, and roofing products.

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Boise Cascade Co (BCC US)

Boise Cascade Company: Will The Heightened Focus on Repair and Remodel (R&R) Market Pay Off? - Major Drivers

Boise Cascade's first quarter of 2024 shows a balance of strengths and areas of concern reflecting the complex dynamics in the wood products and...

Baptista Research

Boise Cascade Corporation: These 4 Pivotal Factors Are Needle-Movers For Its Stock In 2024 & Beyond!

This is our first report on building and wooden products producer, Boise Cascade. The company, which operates in the building materials and wood...

Baptista Research

29 Reasons to Be Bullish

A bottom-up scan of stock charts shows over 29 stocks with bullish technical patterns consisting of uptrends or breakouts from multi-month bases...

Cam Hui

Continued Absence Of Breakdowns Is A Positive Sign; Many Bottoms-Up Stock Recommendations

As long as the Russell 2000 index (IWM) is above $208, the Russell Micro Caps index (IWC) is above $134-$135, and the S&P 500 is above 4495, we...

Vermilion Research

U.S. Equity Strategy: All-Time Highs Are Not a Sell Signal

We have said it before and we will say it again; new highs are not a sell signal. This time we are referring to the S&P 500 which is breaking...

Vermilion Research

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