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>Kellanova, a renowned snack food manufacturer known for brands like Cheez-It and Pringles, has recently attracted the interest of Mars, the global confectionery giant behind M&M's and Snickers.</li><li>With a market value of approximately $27 billion, including debt, Kellanova is a significant player in the packaged food sector.</li><li>Despite its robust market presence and diverse product portfolio, Kellanova's shares have underperformed relative to peers, presenting a potential acquisition opportunity.</li></ul>

Kellanova, a renowned snack food manufacturer known for brands like Cheez-It and Pringles, has recently attracted the interest of Mars, the global confectionery giant behind M&M's and Snickers.With a market value of approximately $27 billion, including debt, Kellanova is a significant player in the packaged food sector.Despite its robust market presence and diverse product portfolio, Kellanova's shares have underperformed relative to peers, presenting a potential acquisition opportunity.

Kellanova on Mars’ Radar: What Makes This Snack Leader a Prime Target?

<ul><li>During the latest earnings, W.K. Kellogg Co demonstrated its strategic plans for the future and reported strong financial results for the fourth quarter and fiscal year 2023.</li><li>The CEO, Gary Pilnick, emphasized the company’s commitment to delivering on its promises and its focus on execution and engaging its team.</li><li>The company achieved net sales at the high end of their guidance range and EBITDA margin above their guidance range indicating effective business planning.</li></ul>

During the latest earnings, W.K. Kellogg Co demonstrated its strategic plans for the future and reported strong financial results for the fourth quarter and fiscal year 2023.The CEO, Gary Pilnick, emphasized the company’s commitment to delivering on its promises and its focus on execution and engaging its team.The company achieved net sales at the high end of their guidance range and EBITDA margin above their guidance range indicating effective business planning.

WK Kellogg Co: Positive Price/Mix and Revenue Growth Management Initiatives! - Major Drivers

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>Haldiram's skyrockets from Bikaner roots to $8 billion global snack powerhouse.</li>
<li>Agarwal family's strategic split and merger propel Haldiram to new heights in the snack industry.</li>
<li>Bain and Blackstone battle for Haldiram, eyeing a massive acquisition.</li>
</ul>


Haldiram's skyrockets from Bikaner roots to $8 billion global snack powerhouse.
Agarwal family's strategic split and merger propel Haldiram to new heights in the snack industry.
Bain and Blackstone battle for Haldiram, eyeing a massive acquisition.


Snack Dynasty: Haldiram's Rise to a Multi-Billion Dollar Empire

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

Health Care Select Sector SPDR / Technical Analysis

<ul>
<li>As the saying goes, "sector rotation is the lifeblood of a bull market." That appears to be exactly what is going on as we kick off 2024.</li>
<li>Leadership areas that have significantly outperformed since the October 2023 lows are starting to pull back rather hard -- and on above average volume (XLK, SMH, IGV, ARKK, IPO, BITQ)</li>
<li>Other Sectors are picking up the slack, namely Health Care (XLV), Staples (XLP), Utilities (XLU), Energy (XLE), Financials (XLF), and Real Estate (XLRE). Shift exposure toward value and defensives</li>
</ul>


As the saying goes, "sector rotation is the lifeblood of a bull market." That appears to be exactly what is going on as we kick off 2024.
Leadership areas that have significantly outperformed since the October 2023 lows are starting to pull back rather hard -- and on above average volume (XLK, SMH, IGV, ARKK, IPO, BITQ)
Other Sectors are picking up the slack, namely Health Care (XLV), Staples (XLP), Utilities (XLU), Energy (XLE), Financials (XLF), and Real Estate (XLRE). Shift exposure toward value and defensives


Upgrading Staples and Health Care to Market Weight; Shift to Value; Failed Breakouts for ARKK, IPO

<ul><li>Kellogg Company delivered mixed results in the quarter, with revenues below expectations but surpassed the Wall Street consensus regarding earnings.</li><li>With this operating profit result, Kellogg is slightly above its previous full-year forecast.</li><li>Market growth rates for the snacks category remained strong and may have even increased somewhat from the previous quarter.</li></ul>

Kellogg Company delivered mixed results in the quarter, with revenues below expectations but surpassed the Wall Street consensus regarding earnings.With this operating profit result, Kellogg is slightly above its previous full-year forecast.Market growth rates for the snacks category remained strong and may have even increased somewhat from the previous quarter.

Kellogg Company: Riding the Wave of Global Snack Trends – Can They Sustain the Momentum? - Major Drivers

United States

Kellogg Company manufactures and markets ready-to-eat cereal and other convenience foods. The Company's products include cereals, cookies, crackers, toaster pastries, cereal bars, fruit snacks, frozen waffles and veggie foods. Kellogg markets its products in the United States, Canada, and other countries throughout the world.

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Kellogg Co (K US)

Kellanova on Mars’ Radar: What Makes This Snack Leader a Prime Target?

Kellanova, a renowned snack food manufacturer known for brands like Cheez-It and Pringles, has recently attracted the interest of Mars, the global...

Baptista Research

WK Kellogg Co: Positive Price/Mix and Revenue Growth Management Initiatives! - Major Drivers

During the latest earnings, W.K. Kellogg Co demonstrated its strategic plans for the future and reported strong financial results for the fourth...

Baptista Research

Snack Dynasty: Haldiram's Rise to a Multi-Billion Dollar Empire

Haldiram's rapid rise to $8 billion global snack giant was fueled by the split, strategic merger, and acquisition interest from Bain and Blackstone.

Sudarshan Bhandari

Upgrading Staples and Health Care to Market Weight; Shift to Value; Failed Breakouts for ARKK, IPO

Shifting exposure toward value and defensives. Upgrading Consumer Staples $XLP and Health Care $XLV to market weight. $ARKK and $IPO with bearish...

Vermilion Research

Kellogg Company: Riding the Wave of Global Snack Trends – Can They Sustain the Momentum? - Major Drivers

Kellogg Company delivered mixed results in the quarter, with revenues below expectations but surpassed the Wall Street consensus regarding...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Kellanova on Mars’ Radar: What Makes This Snack Leader a Prime Target?

Kellanova, a renowned snack food manufacturer known for brands like Cheez-It and Pringles, has recently attracted the interest of Mars, the global...

Baptista Research

WK Kellogg Co: Positive Price/Mix and Revenue Growth Management Initiatives! - Major Drivers

During the latest earnings, W.K. Kellogg Co demonstrated its strategic plans for the future and reported strong financial results for the fourth...

Baptista Research

Snack Dynasty: Haldiram's Rise to a Multi-Billion Dollar Empire

​Haldiram's rapid rise to $8 billion global snack giant was fueled by the split, strategic merger, and acquisition interest from Bain and Blackstone.

Sudarshan Bhandari

Upgrading Staples and Health Care to Market Weight; Shift to Value; Failed Breakouts for ARKK, IPO

Shifting exposure toward value and defensives. Upgrading Consumer Staples $XLP and Health Care $XLV to market weight. $ARKK and $IPO with bearish...

Vermilion Research

Kellogg Company: Riding the Wave of Global Snack Trends – Can They Sustain the Momentum? - Major Drivers

Kellogg Company delivered mixed results in the quarter, with revenues below expectations but surpassed the Wall Street consensus regarding...

Baptista Research

Haldiram's rapid rise to $8 billion global snack giant was fueled by the split, strategic merger, and acquisition interest from Bain and Blackstone.