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>Ingersoll Rand announced its results for the first quarter of 2024, indicating a solid performance underpinned by strategic initiatives and operational agility.</li><li>Despite facing macroeconomic challenges, the company has demonstrated its resilience and capacity to execute effectively against these headwinds.</li><li>Key to its strategy is the IRX initiative, an internal system designed to optimize performance and fuel growth through efficiency and innovation.</li></ul>

Ingersoll Rand announced its results for the first quarter of 2024, indicating a solid performance underpinned by strategic initiatives and operational agility.Despite facing macroeconomic challenges, the company has demonstrated its resilience and capacity to execute effectively against these headwinds.Key to its strategy is the IRX initiative, an internal system designed to optimize performance and fuel growth through efficiency and innovation.

Ingersoll Rand Inc.: How Are They Successfully Executing The Expansion of Life Sciences and Technology Sectors? - Major Drivers

<ul><li>Ingersoll Rand reports strong performance for Q4 2023, marking another record-breaking year despite continued challenges within a fluctuating macroeconomic environment.</li><li>This performance reinforces the importance of Ingersoll Rand's employee ownership mindset, which is being credited for the successful results.</li><li>In 2023, Ingersoll Rand delivered double-digit growth across revenue, adjusted EBITDA, adjusted EPS and free cash flow.</li></ul>

Ingersoll Rand reports strong performance for Q4 2023, marking another record-breaking year despite continued challenges within a fluctuating macroeconomic environment.This performance reinforces the importance of Ingersoll Rand's employee ownership mindset, which is being credited for the successful results.In 2023, Ingersoll Rand delivered double-digit growth across revenue, adjusted EBITDA, adjusted EPS and free cash flow.

Ingersoll Rand: A Tale Of Expansion of Addressable Market through Strategic M&A Activity! - Major Drivers

<ul><li>Ingersoll Rand Inc. delivered a solid result and managed an all-around beat in the last quarter, characterized by double-digit growth in revenue, adjusted EBITDA, adjusted EPS, and free cash flow.</li><li>Despite the dynamic macroeconomic environment, the company demonstrated resilience and agility, delivering robust financial performance and surpassing expectations.</li><li>Notably, Ingersoll Rand raised its 2023 full-year guidance based on continued robust performance year-to-date.</li></ul>

Ingersoll Rand Inc. delivered a solid result and managed an all-around beat in the last quarter, characterized by double-digit growth in revenue, adjusted EBITDA, adjusted EPS, and free cash flow.Despite the dynamic macroeconomic environment, the company demonstrated resilience and agility, delivering robust financial performance and surpassing expectations.Notably, Ingersoll Rand raised its 2023 full-year guidance based on continued robust performance year-to-date.

Ingersoll Rand Inc.: Recent Acquisitions Of Oxywise

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

Midea Group Co Ltd A / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/midea-group-co-ltd-a" target="_blank" data-smartkarma-citation="entities:16185:1" rel="noopener">Midea Group Co Ltd A (000333 CH)</a> priced its H Share at HK$54.80 to raise HK$31,014 million (US$4.0 billion) in gross proceeds. The H Share will be listed tomorrow.</li>
<li>The H Share listing price implies an AH discount of 21.4% at the A Share price of RMB63.51. This compares to <a href="https://www.smartkarma.com/entities/haier-smart-home-co-ltd-b3ef445f-0f54-4586-8c58-9073de98d60e" target="_blank" data-smartkarma-citation="entities:31105:1" rel="noopener">Haier Smart Home (6690 HK)</a>'s AH discount of 13.8%.</li>
<li>Futu grey market data shows that the H Shares closed 5.1% higher at HK$57.60. Our valuation analysis suggests that the H Share listing price is attractive.</li>
</ul>



Midea Group Co Ltd A (000333 CH) priced its H Share at HK$54.80 to raise HK$31,014 million (US$4.0 billion) in gross proceeds. The H Share will be listed tomorrow.
The H Share listing price implies an AH discount of 21.4% at the A Share price of RMB63.51. This compares to Haier Smart Home (6690 HK)'s AH discount of 13.8%.
Futu grey market data shows that the H Shares closed 5.1% higher at HK$57.60. Our valuation analysis suggests that the H Share listing price is attractive.


Midea Group H Share Listing (300 HK): Trading Debut

<ul>
<li>
<a href="https://www.smartkarma.com/entities/midea-group-co-ltd-a" target="_blank" data-smartkarma-citation="entities:16185:1" rel="noopener">Midea Group Co Ltd A (000333 CH)</a> has launched its H Share listing at HK$52.00-54.80 per share. Pricing will be on 13 September, and the listing on 17 September.</li>
<li>We previously discussed the listing in <a href="https://www.smartkarma.com/insights/midea-group-h-share-listing-latest-updates-points-to-a-business-in-rude-health" target="_blank" data-smartkarma-citation="insights:157653" rel="noopener">Midea Group H Share Listing: Latest Updates Points to a Business in Rude Health</a> and <a href="https://www.smartkarma.com/insights/midea-group-h-share-listing-ah-discount-views" target="_blank" data-smartkarma-citation="insights:157868" rel="noopener">Midea Group H Share Listing: AH Discount Views</a>. </li>
<li>Our valuation analysis suggests that the H Share listing range is attractive. We would participate in the listing.</li>
</ul>



Midea Group Co Ltd A (000333 CH) has launched its H Share listing at HK$52.00-54.80 per share. Pricing will be on 13 September, and the listing on 17 September.
We previously discussed the listing in Midea Group H Share Listing: Latest Updates Points to a Business in Rude Health and Midea Group H Share Listing: AH Discount Views. 
Our valuation analysis suggests that the H Share listing range is attractive. We would participate in the listing.


Midea Group H Share Listing (300 HK): Valuation Insights

United States

Ingersoll Rand Inc. manufactures flow control equipment. The Company offers vacuum systems, bottle blowers, pumps, and air and gas compressors. Ingersoll-Rand serves customers worldwide.

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Ingersoll Rand (IR US)

Ingersoll Rand Inc.: How Are They Successfully Executing The Expansion of Life Sciences and Technology Sectors? - Major Drivers

Ingersoll Rand announced its results for the first quarter of 2024, indicating a solid performance underpinned by strategic initiatives and...

Baptista Research

Ingersoll Rand: A Tale Of Expansion of Addressable Market through Strategic M&A Activity! - Major Drivers

Ingersoll Rand reports strong performance for Q4 2023, marking another record-breaking year despite continued challenges within a fluctuating...

Baptista Research

Ingersoll Rand Inc.: Recent Acquisitions Of Oxywise

Ingersoll Rand Inc. delivered a solid result and managed an all-around beat in the last quarter, characterized by double-digit growth in revenue,...

Baptista Research

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52-week Range

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Ingersoll Rand Inc.: How Are They Successfully Executing The Expansion of Life Sciences and Technology Sectors? - Major Drivers

Ingersoll Rand announced its results for the first quarter of 2024, indicating a solid performance underpinned by strategic initiatives and...

Baptista Research

Ingersoll Rand: A Tale Of Expansion of Addressable Market through Strategic M&A Activity! - Major Drivers

Ingersoll Rand reports strong performance for Q4 2023, marking another record-breaking year despite continued challenges within a fluctuating...

Baptista Research

Ingersoll Rand Inc.: Recent Acquisitions Of Oxywise

Ingersoll Rand Inc. delivered a solid result and managed an all-around beat in the last quarter, characterized by double-digit growth in revenue,...

Baptista Research

Midea Group H Share Listing (300 HK): Trading Debut

The H Share listing and Futu grey market price imply an AH discount of 21.4% and 17.4%, respectively, which is attractive compared to Haier, its...

Arun George

Midea Group H Share Listing (300 HK): Valuation Insights

Midea has launched its H Share listing. Our valuation analysis suggests that the range is attractive, so we would participate in the listing.

Arun George