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

General Electric  / Equity Capital Markets

<ul><li>General Electric saw an improvement in its order book position from the beginning of 2022.</li><li>Organically, the orders were up by approximately 13% in both equipment and services, and double-digit growth was seen in power and aviation.</li><li>This is the more profitable side of GE’s business and the company is leading it forward with innovation and reconfiguring its supply chains while increasing R&D expenditure.</li></ul>

General Electric saw an improvement in its order book position from the beginning of 2022.Organically, the orders were up by approximately 13% in both equipment and services, and double-digit growth was seen in power and aviation.This is the more profitable side of GE’s business and the company is leading it forward with innovation and reconfiguring its supply chains while increasing R&D expenditure.

General Electric Company: Financial & Price Forecasts

Credit

<ul><li>General Electric had a fairly decent 2021 despite the fact that the company operated in a fast-changing environment.</li><li>The management managed to deliver decent free cash flows, earnings growth, and solid margin expansion.</li><li>GE focused on its portfolio, strengthened its operating performance, and significantly reduced debt through decentralization and lean.</li></ul>

General Electric had a fairly decent 2021 despite the fact that the company operated in a fast-changing environment.The management managed to deliver decent free cash flows, earnings growth, and solid margin expansion.GE focused on its portfolio, strengthened its operating performance, and significantly reduced debt through decentralization and lean.

General Electric Company: Detailed Credit Analysis & Financial Strength Evaluation Report

<ul><li>General Electric was effectively able to steer a dynamic environment in 2021, delivering decent free cash flows, earnings growth, and solid margin expansion.</li><li>The company focused on its portfolio, strengthened its operating performance, and significantly reduced debt through decentralization and lean.</li><li>As the end markets strengthen and aviation recovers, the management is viewing real prospects for sustainable, profitable growth.</li></ul>

General Electric was effectively able to steer a dynamic environment in 2021, delivering decent free cash flows, earnings growth, and solid margin expansion.The company focused on its portfolio, strengthened its operating performance, and significantly reduced debt through decentralization and lean.As the end markets strengthen and aviation recovers, the management is viewing real prospects for sustainable, profitable growth.

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/shinsei-bank-ltd" target="_blank" data-smartkarma-citation="entities:16897:1" rel="noopener">Shinsei Bank (8303 JP)</a> has "given up" and accepted the fact of the Tender Offer. There will be no Poison Pill EGM, and SBI will "honour" Shinsei management policy</li>
<li>Approval from the anti-trust watchdog is by no means a sure thing in the <a href="https://www.smartkarma.com/entities/true-corp-pcl" target="_blank" data-smartkarma-citation="entities:8:1" rel="noopener">True Corp Pcl (TRUE TB)</a> / <a href="https://www.smartkarma.com/entities/total-access-communication" target="_blank" data-smartkarma-citation="entities:948:1" rel="noopener">Total Access Communication (DTAC TB)</a> merge. </li>
<li>Hotel operator <a href="https://www.smartkarma.com/entities/shanghai-jin-jiang-capital-company-limited" target="_blank" data-smartkarma-citation="entities:15781:1" rel="noopener">Shanghai Jin Jiang Capital Company Limited (2006 HK)</a> has announced a pre-conditional Offer from an entity primarily controlled by Shanghai SASAC. </li>
</ul>



Shinsei Bank (8303 JP) has "given up" and accepted the fact of the Tender Offer. There will be no Poison Pill EGM, and SBI will "honour" Shinsei management policy
Approval from the anti-trust watchdog is by no means a sure thing in the True Corp Pcl (TRUE TB) / Total Access Communication (DTAC TB) merge. 
Hotel operator Shanghai Jin Jiang Capital Company Limited (2006 HK) has announced a pre-conditional Offer from an entity primarily controlled by Shanghai SASAC. 


Last Week in Event SPACE: Shinsei Bank, True Corp/DTAC, Kansai Super, SingTel, DiDi Global

AlphaSituations-Event/Catalyst Driven Research, AlphaSituations

Robert Sassoon

AlphaSituations-Event/Catalyst Driven Research

AlphaSituations

Since its establishment, AlphaSituations has delivered a track record of outperformance with a hit rate of winners of more than 70% of its portfolio of ideas generating annualized average returns of 20%. In January 2022, AlphaSituations was contracted by Water Tower Research, an investor engagement and stakeholder communication platform to provide coverage of Special Situations

<ul>
<li>Splitting GE into 3 independent, unconnected companies makes strategic sense, and barring unforeseen exogenous factors, should unlock meaningful value for its shareholders  </li>
<li>Based on 2023 estimates, our valuation analysis indicates a SOTP value for GE of  $139-$152 for an up to ~50% upside </li>
<li>Despite the extended break-up execution timeline, there is a case to be made for investors to use the current share price lull to jump in and enjoy the catalyst-driven ride.</li>
</ul>


Splitting GE into 3 independent, unconnected companies makes strategic sense, and barring unforeseen exogenous factors, should unlock meaningful value for its shareholders  
Based on 2023 estimates, our valuation analysis indicates a SOTP value for GE of  $139-$152 for an up to ~50% upside 
Despite the extended break-up execution timeline, there is a case to be made for investors to use the current share price lull to jump in and enjoy the catalyst-driven ride.


SpinTalk: Thoughts On GE's Break-Up Strategy And Why We Think The Stock Is Ready To Fly Again

United States

General Electric Company is a globally diversified technology and financial services company. The Company's products and services include aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing, and industrial products.

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General Electric (GE US)

General Electric Company: Financial & Price Forecasts

General Electric saw an improvement in its order book position from the beginning of 2022. Organically, the orders were up by approximately 13% in...

Baptista Research

General Electric Company: Detailed Credit Analysis & Financial Strength Evaluation Report

General Electric had a fairly decent 2021 despite the fact that the company operated in a fast-changing environment. The management managed to...

Baptista Research

General Electric Company: Financial & Price Forecasts

General Electric was effectively able to steer a dynamic environment in 2021, delivering decent free cash flows, earnings growth, and solid margin...

Baptista Research

Last Week in Event SPACE: Shinsei Bank, True Corp/DTAC, Kansai Super, SingTel, DiDi Global

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

SpinTalk: Thoughts On GE's Break-Up Strategy And Why We Think The Stock Is Ready To Fly Again

Despite the long timeline restructuring play, there is a good case to be made for investors to use the lull in the share price to jump onto the GE...

Robert Sassoon

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