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

Graphic Packaging Holding Company / Equity Bottom-Up

<ul><li>Graphic Packaging Holding Company's performance in the first quarter of 2024 presents a mixed picture.</li><li>Despite challenging market conditions, the company demonstrated resilience, attributed to its diversified portfolio and strategic initiatives, which may hold implications for stakeholders considering investment in the firm.</li><li>On the revenue front, Graphic Packaging saw its sales reach $2.3 billion.</li></ul>

Graphic Packaging Holding Company's performance in the first quarter of 2024 presents a mixed picture.Despite challenging market conditions, the company demonstrated resilience, attributed to its diversified portfolio and strategic initiatives, which may hold implications for stakeholders considering investment in the firm.On the revenue front, Graphic Packaging saw its sales reach $2.3 billion.

Graphic Packaging Holding Company: Is The Volume Growth & Market Expansion Here To Stay? - Major Growth Drivers

<ul><li>Globus Medical, a leading musculoskeletal solutions provider, has reported record revenues of $1.569 billion for the full year 2023, marking a growth of 53% compared to the previous year.</li><li>The strong performance includes four months of sales after its merger with NuVasive.</li><li>This remarkable growth maintained the company's industry-leading profitability, generating a record non-GAAP EPS of $2.32 and an adjusted EBITDA of 30%.</li></ul>

Globus Medical, a leading musculoskeletal solutions provider, has reported record revenues of $1.569 billion for the full year 2023, marking a growth of 53% compared to the previous year.The strong performance includes four months of sales after its merger with NuVasive.This remarkable growth maintained the company's industry-leading profitability, generating a record non-GAAP EPS of $2.32 and an adjusted EBITDA of 30%.

Graphic Packaging Holding Company: Initiation Of Coverage - These Are The 3 Biggest Challenges In Its Path! - Major Drivers

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

<ul>
<li>We are getting the test of the lows we have been calling for, following some indiscriminate selling late last week which produced back-to-back 80%+ downside volume days on the NYSE.</li>
<li>There can certainly be more 80%-90%+ downside days that take the indexes to new lows.</li>
<li>We need to see back-to-back 80%+ upside volume days or one 90%+ upside day on the NYSE in order to have confidence that a major market bottom is in place</li>
</ul>


We are getting the test of the lows we have been calling for, following some indiscriminate selling late last week which produced back-to-back 80%+ downside volume days on the NYSE.
There can certainly be more 80%-90%+ downside days that take the indexes to new lows.
We need to see back-to-back 80%+ upside volume days or one 90%+ upside day on the NYSE in order to have confidence that a major market bottom is in place


Panic Selling Achieved, Now Waiting for Panic Buying; Major Indexes At/Near Support

Equity Analyst, LightStream Research

Supun Walpola

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Capital Markets

In our previous note, <a href="https://www.smartkarma.com/insights/scg-packaging-ipo-short-term-catalysts-are-not-attractive" target="_blank" data-smartkarma-citation="insights:43675" rel="noopener">SCG Packaging IPO: Short-Term Catalysts Are Not Attractive</a>, we suggested that, while we like SCGP for its longer-term prospects, the company’s short-term performance is likely to be hindered by the sluggish Thai economy. However, we believe these short-term risks are compensated through the company’s valuation, which looks attractive to us even at the higher-end of the indicative IPO price range. We would consider subscribing to the IPO but would not rule out the possibility of a pullback in the short-run under margins pressure.

In our previous note, SCG Packaging IPO: Short-Term Catalysts Are Not Attractive, we suggested that, while we like SCGP for its longer-term prospects, the company’s short-term performance is likely to be hindered by the sluggish Thai economy. However, we believe these short-term risks are compensated through the company’s valuation, which looks attractive to us even at the higher-end of the indicative IPO price range. We would consider subscribing to the IPO but would not rule out the possibility of a pullback in the short-run under margins pressure.

SCG Packaging IPO: Risks-Rewards Attractive at the Higher-End of the IPO Price Range

Both Energy and Materials have hurriedly advanced within our relative strength rankings over the past several weeks--now ranking #2 and #4, respectively--confirming the widespread patterns visible in the charts of each Sector’s constituents: bottoms and bases.We have highlighted these evolving set-ups over the past year, identifying: improving internals in energy (Aug. 12), then labeling it as a bottom the following week; also, reiterating copper nearly twelve months ago from today, recommending fertilizers (Dec. 13), and reiterating metals &amp; mining stocks (Dec. 18).Given the improving relative strength trends coupled with constructive patterns, we are upgrading both sectors to overweight from market weight.

Both Energy and Materials have hurriedly advanced within our relative strength rankings over the past several weeks--now ranking #2 and #4, respectively--confirming the widespread patterns visible in the charts of each Sector’s constituents: bottoms and bases.We have highlighted these evolving set-ups over the past year, identifying: improving internals in energy (Aug. 12), then labeling it as a bottom the following week; also, reiterating copper nearly twelve months ago from today, recommending fertilizers (Dec. 13), and reiterating metals &amp; mining stocks (Dec. 18).Given the improving relative strength trends coupled with constructive patterns, we are upgrading both sectors to overweight from market weight.

Upgrading U.S. Energy & Materials Sectors to Overweight

United States

Crown Holdings, Inc. designs, manufactures, and sells packaging products for consumer goods through plants located in countries around the world.  The Company's primary products include steel and aluminum cans for food, beverage, household, and other consumer products.  Crown also provides a variety of metal caps, closures, and dispensing systems.

AptarGroup, Inc. designs, manufactures, and markets pumps, dispensing closures, and aerosol valves.  The Company's products are used for fragrance/cosmetics, personal care, pharmaceutical, household/industrial, and food products. AptarGroup operates worldwide.

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

Berry Global Group Inc. manufactures plastic products and containers. The Company produces agricultural film, moisture control products for buildings, closures, disposable cutlery, drop cloths, flexible packaging, overcaps, tapes, tubes, bottles, drink cups, lids, and trash bags. Berry Plastics markets its products worldwide.

Sonoco Products Company manufactures industrial and consumer packaging solutions for customers around the world.  The Company's products include flexible packaging, high density film products, and folding cartons.  Sonoco Products also has an integrated network of global technology centers focused on materials science, packaging engineering, and process improvement.

WestRock Company provides consumer and corrugated packaging solutions. The Company offers merchandising displays, paperboard, recycling, and waste solutions. WestRock conducts business in the United States.

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.

Silgan Holdings Inc. and its subsidiaries manufacture consumer goods packaging products.  The Company currently produces steel and aluminum containers for human and pet food, custom designed plastic containers for various markets, plastic closures and caps, thermoformed  plastic tubs, and specialty packaging items.  Silgan markets its products in North America.

UFP Technologies, Inc. designs and manufactures a broad range of high-performance cushion packaging and specialty foam and plastic products for the industrial and consumer markets. The Company also custom designs and manufactures precision molded fiber packaging products made primarily from recycled paper.

O-I Glass, Inc. manufactures packaging products. The Company produces various types of glass bottles for food, beverage, cosmetics, and other related industries. O-I Glass serves customers worldwide.

DS Smith Plc is an International paper company focused on packaging and office products. The Group collects waste paper, manufactures paper, converts corrugated packaging and produces bag-in-box, plastic corrugated and heavy duty corrugated packaging, as well as wholesales office supplies.

CCL Industries Inc. supplies manufacturing services and specialty packaging products for the non-durable consumer products market.  The Company provides formulation and manufacturing services, labels, aluminum and plastic specialty tubes, containers, and closures to marketers of cosmetic, personal care, pharmaceutical, household, and specialty food products.

Vidrala SA manufactures glass bottles and markets them throughout Europe.  The Company produces bottles for beverages, vegetable oils, and preserves.

Huhtamaki Oyj manufactures consumer packaging products.  The Company produces disposable food service and tableware products, such as cups, plates, and trays, as well as containers for fresh meats, fruits, dairy products, frozen foods, coffee, and detergents.  Huhtamaki makes the containers of paper, molded fibers, and plastics.  The Company manufactures in many countries and sells worldwide.

Klabin S.A. produces, exports, and recycles paper. The Company's products include packaging paper and board, corrugated boxes, industrial sacks and timber in logs for saw mills and veneer plants.

SCG Packaging Public Company Limited provides packaging services and solutions. The Company offers fiber-based packaging, performance and polymer packaging, and food service products, as well as designing and printing services. SCG Packaging serves customers worldwide.

Amcor Limited is an international integrated packaging company offering packaging and related services.  Amcor primarily produces a wide range of packaging products which include corrugated boxes, cartons, aluminum and steel cans, flexible plastic packaging, PET plastic bottles and jars, and multi-wall sacks.

Toyo Seikan Group Holdings Ltd primarily manufactures, markets, and sells metal, plastic, and glass packaging products and containers.  The Company specializes in food cans, 18-liter cans, and other beverage cans.  Toyo Seikan also produces steel products such as steel sheets.

Orora Limited provides packaging products and services. The Company offers fiber, glass, and beverage can packaging materials in Australia and Asia and packaging distribution services in North America and Australia.

Graphic Packaging Holding Company is an integrated provider of paperboard and integrated paperboard packaging solutions to multinational beverage and consumer products companies.  The Company manufactures folding cartons for frozen and non-frozen food and beverage products.

Graphic Packaging Holding Company (GPK US)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Graphic Packaging Holding Company (GPK US)

Graphic Packaging Holding Company: Is The Volume Growth & Market Expansion Here To Stay? - Major Growth Drivers

Graphic Packaging Holding Company's performance in the first quarter of 2024 presents a mixed picture. Despite challenging market conditions, the...

Baptista Research

Graphic Packaging Holding Company: Initiation Of Coverage - These Are The 3 Biggest Challenges In Its Path! - Major Drivers

Globus Medical, a leading musculoskeletal solutions provider, has reported record revenues of $1.569 billion for the full year 2023, marking a...

Baptista Research

Panic Selling Achieved, Now Waiting for Panic Buying; Major Indexes At/Near Support

Now that we have seen indiscriminate panic selling, we are now looking for panic buying in order to have confidence that a major market bottom is...

Vermilion Research

SCG Packaging IPO: Risks-Rewards Attractive at the Higher-End of the IPO Price Range

In our previous note, SCG Packaging IPO: Short-Term Catalysts Are Not Attractive, we suggested that, while we like SCGP for its longer-term...

Supun Walpola

Upgrading U.S. Energy & Materials Sectors to Overweight

Both Energy and Materials have hurriedly advanced within our relative strength rankings over the past several weeks--now ranking #2 and #4,...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)