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 Capital Markets

<ul><li>Despite continuing supply constraints, Deere managed a decent result without its margins taking too bad of a hit.</li><li>As reflected in the recent WASDE report, supply and demand factors drive up crop prices which should benefit Deere.</li><li>As a result, growers' profitability and cash flow remain strong which should give them a higher budget to spend on Deere’s offerings in the year.</li></ul>

Despite continuing supply constraints, Deere managed a decent result without its margins taking too bad of a hit.As reflected in the recent WASDE report, supply and demand factors drive up crop prices which should benefit Deere.As a result, growers' profitability and cash flow remain strong which should give them a higher budget to spend on Deere’s offerings in the year.

Deere & Company: Precision Agriculture & Other Drivers

Japan Specialist

Mark Chadwick

Equity Bottom-Up

<ul>
<li>Kubota's stock declined in sympathy with agricultural major Deere following a quarterly earnings miss</li>
<li>Kubota faces similar supply chain and cost pressures, but it is the US housing market that is a bigger concern</li>
<li>We believe that the market is underestimating the earnings risk for Kubota should the housing market start to cool </li>
</ul>


Kubota's stock declined in sympathy with agricultural major Deere following a quarterly earnings miss
Kubota faces similar supply chain and cost pressures, but it is the US housing market that is a bigger concern
We believe that the market is underestimating the earnings risk for Kubota should the housing market start to cool 


Kubota (6326 JP) | US Housing Risk to Big to Ignore

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>Last week's FOMC announcement and quad witching allowed for some breadth improvement, and the S&amp;P 500, Nasdaq 100, Russell 2000, and Russell Micro Cap indexes broke above their respective downtrends.</li>
<li>While this is undoubtedly a positive, we are waiting for more confirmation. It is not uncommon to have misdirection following important FOMC meetings.</li>
<li>The Russell 2000(IWM) remains below major resistance at $209, which was support for all of 2021. This is arguably the most important resistance level in regards to the broad market.</li>
</ul>


Last week's FOMC announcement and quad witching allowed for some breadth improvement, and the S&amp;P 500, Nasdaq 100, Russell 2000, and Russell Micro Cap indexes broke above their respective downtrends.
While this is undoubtedly a positive, we are waiting for more confirmation. It is not uncommon to have misdirection following important FOMC meetings.
The Russell 2000(IWM) remains below major resistance at $209, which was support for all of 2021. This is arguably the most important resistance level in regards to the broad market.


Russell 2000 Testing Resistance; Buying Steel, Copper, Uranium, Ag Equipment Stocks

Credit

<ul><li>From a financial standpoint, Deere & Company has performed well in 2021 with strong execution despite general macroeconomic challenges.</li><li>Meanwhile, strong demand and price realization continue to benefit the construction and forestry markets, contributing to the division's strong performance in the quarter.</li><li>Based on our credit analysis, the company merits a Credit Evaluation Score of A with a stable outlook and as per our Financial Strength Indicator, its performance is 3.96/ 5.</li></ul>

From a financial standpoint, Deere & Company has performed well in 2021 with strong execution despite general macroeconomic challenges.Meanwhile, strong demand and price realization continue to benefit the construction and forestry markets, contributing to the division's strong performance in the quarter.Based on our credit analysis, the company merits a Credit Evaluation Score of A with a stable outlook and as per our Financial Strength Indicator, its performance is 3.96/ 5.

Deere & Co.: Detailed Credit Analysis & Financial Strength Evaluation Report

<ul><li>Deere & Company has surged past the target price from our last report and finished the quarter with solid execution despite general macroeconomic uncertainty.</li><li>Meanwhile, strong demand and price realization continue to benefit the construction and forestry markets, contributing to the division's strong performance in the quarter.</li><li>We maintain our 'Hold' rating on Deere & Co with a revised target price.</li></ul>

Deere & Company has surged past the target price from our last report and finished the quarter with solid execution despite general macroeconomic uncertainty.Meanwhile, strong demand and price realization continue to benefit the construction and forestry markets, contributing to the division's strong performance in the quarter.We maintain our 'Hold' rating on Deere & Co with a revised target price.

Deere & Company: Financial & Price Forecasts

United States

Deere & Company manufactures and distributes a range of agricultural, construction and forestry, and commercial and consumer equipment.  The Company supplies replacement parts for its own products and for those of other manufacturers. Deere also provides product and parts financing services. Deere and Company extends its services and products worldwide.

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Deere & Co (DE US)

Deere & Company: Precision Agriculture & Other Drivers

Despite continuing supply constraints, Deere managed a decent result without its margins taking too bad of a hit. As reflected in the recent WASDE...

Baptista Research

Kubota (6326 JP) | US Housing Risk to Big to Ignore

Supply chain and cost pressures abound, but it is the risk around a cooling US housing market concerns us the most. We think the stock could...

Mark Chadwick

Russell 2000 Testing Resistance; Buying Steel, Copper, Uranium, Ag Equipment Stocks

The Russell 2000 $IWM remains below major resistance at $209, which was support for all of 2021. This is arguably the most important resistance...

Vermilion Research

Deere & Co.: Detailed Credit Analysis & Financial Strength Evaluation Report

From a financial standpoint, Deere & Company has performed well in 2021 with strong execution despite general macroeconomic...

Baptista Research

Deere & Company: Financial & Price Forecasts

Deere & Company has surged past the target price from our last report and finished the quarter with solid execution despite general...

Baptista Research

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