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.

Credit

<ul><li>Marriot Hotels has its fair share of underlying risks as it continues its path to recovery after the pandemic.</li><li>Cross-border travel has seen a good recovery which is benefitting the company.</li><li>We also have a dedicated analysis of the company's Environmental, Social, and Governance (ESG) risk scores in order to evaluate the sustainability risk.</li></ul>

Marriot Hotels has its fair share of underlying risks as it continues its path to recovery after the pandemic.Cross-border travel has seen a good recovery which is benefitting the company.We also have a dedicated analysis of the company's Environmental, Social, and Governance (ESG) risk scores in order to evaluate the sustainability risk.

Marriott Hotels: Detailed Credit Analysis & Financial Strength Evaluation Report

Equity Capital Markets

Marriott International / Equity Capital Markets

<ul><li>Marriot Hotels continues its path to recovery and delivered a solid result driven by strong demand for its brand all over the world.</li><li>RevPAR in every region all over the world has almost recovered to the pre-pandemic levels and helped the company deliver an all-around beat.</li><li>Overall, we provide the stock of Marriot Hotels a ‘Hold’ rating with a revision in the target price.</li></ul>

Marriot Hotels continues its path to recovery and delivered a solid result driven by strong demand for its brand all over the world.RevPAR in every region all over the world has almost recovered to the pre-pandemic levels and helped the company deliver an all-around beat.Overall, we provide the stock of Marriot Hotels a ‘Hold’ rating with a revision in the target price.

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

Marriott International / Technical Analysis

<ul>
<li>While we are not yet out of the woods, we are seeing several encouraging signals that indicate improving risk appetites.</li>
<li>Additionally, we are starting to see improvement within the Consumer Discretionary (hotels/resorts, casinos, leisure, cruises), Transportation (airlines), and Materials (metals/mining) Sectors -- we highlight several attractive stocks to buy.</li>
<li>The fact that more areas are becoming attractive (and not <em>just</em> Energy and Financials) is a step in the right direction for bulls.</li>
</ul>


While we are not yet out of the woods, we are seeing several encouraging signals that indicate improving risk appetites.
Additionally, we are starting to see improvement within the Consumer Discretionary (hotels/resorts, casinos, leisure, cruises), Transportation (airlines), and Materials (metals/mining) Sectors -- we highlight several attractive stocks to buy.
The fact that more areas are becoming attractive (and not just Energy and Financials) is a step in the right direction for bulls.


Risk Appetites Improving; Buying Cyclicals (Hotels/Resorts/Casinos, Metals/Mining)

<ul><li>This is our first report on hospitality behemoth, Marriott International, Inc., arguably one of the worst-affected companies by the Covid-19 pandemic.</li><li>The company’s business in its 3 biggest markets – the U.S., Canada, and China has been severely hit and the recovery process has been relatively slow.</li><li>The slow recovery in RevPAR and ADR in the recent results has brought about a correction in the stock price.</li></ul>

This is our first report on hospitality behemoth, Marriott International, Inc., arguably one of the worst-affected companies by the Covid-19 pandemic.The company’s business in its 3 biggest markets – the U.S., Canada, and China has been severely hit and the recovery process has been relatively slow.The slow recovery in RevPAR and ADR in the recent results has brought about a correction in the stock price.

Marriott International Inc. - Investment Thesis

United States

Marriott International Inc. is a worldwide operator and franchisor of hotels. The Company franchises lodging facilities and vacation timesharing resorts under various brand names. Marriott also provides services to home and condominium owner associations for projects associated with several of its brands.

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Marriott International (MAR US)

Marriott Hotels: Detailed Credit Analysis & Financial Strength Evaluation Report

Marriot Hotels has its fair share of underlying risks as it continues its path to recovery after the pandemic. Cross-border travel has seen a good...

Baptista Research

Marriott Hotels: Business Strategy

Marriot Hotels continues its path to recovery and delivered a solid result driven by strong demand for its brand all over the world. RevPAR in...

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

Risk Appetites Improving; Buying Cyclicals (Hotels/Resorts/Casinos, Metals/Mining)

We are seeing encouraging signals that indicate improving risk appetites, including improvement within the Discretionary, Transports, and Materials...

Vermilion Research

Marriott International Inc. - Investment Thesis

This is our first report on hospitality behemoth, Marriott International, Inc., arguably one of the worst-affected companies by the Covid-19...

Baptista Research

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