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>Noble Corporation's Q4 2023 earnings revealed a steady operational performance despite certain headwinds.</li><li>Despite delays in contract commencement due to weather and permitting issues, the company achieved a Q4 adjusted EBITDA of $201 million, taking the full-year adjusted EBITDA to the top end of the guidance range.</li><li>Free cash flow for Q4 was $165 million, excluding asset sale proceeds, contributing to a solid full-year figure.</li></ul>

Noble Corporation's Q4 2023 earnings revealed a steady operational performance despite certain headwinds.Despite delays in contract commencement due to weather and permitting issues, the company achieved a Q4 adjusted EBITDA of $201 million, taking the full-year adjusted EBITDA to the top end of the guidance range.Free cash flow for Q4 was $165 million, excluding asset sale proceeds, contributing to a solid full-year figure.

Noble Corporation plc: Initiation Of Coverage - A Tale Of Increased Demand and Better Rates in the North Sea Drilling Market! - Major Drivers

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

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>Noble expands fleet and operations, acquiring Diamond Offshore in major merger</li>
<li>Southwest shares soar as Elliott Investment plans $2 billion recovery strategy</li>
<li>Europe attracts Chinese EV makers with incentives despite looming EU tariffs</li>
</ul>


Noble expands fleet and operations, acquiring Diamond Offshore in major merger
Southwest shares soar as Elliott Investment plans $2 billion recovery strategy
Europe attracts Chinese EV makers with incentives despite looming EU tariffs


#15Business Buzz: Noble Acquires Diamond Offshore, Southwest Stock Jumps, Europe Attracts Chinese EV

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

The S&amp;P 500’s steady uptrend remains intact. The large-cap (S&amp;P 500) vs. small-cap (S&amp;P 600) ratio is breaking out to multi-month highs; prompting our recommendation to shift to an overweight of large-caps. We are also seeing bullish price and RS inflections for developed int’l markets particularly due to strength in Japan, which helps support our bullish outlook for the U.S.  In addition to a complete strategy recap, we highlight attractive Groups and stocks within the Energy and Transportation Sectors.

The S&amp;P 500’s steady uptrend remains intact. The large-cap (S&amp;P 500) vs. small-cap (S&amp;P 600) ratio is breaking out to multi-month highs; prompting our recommendation to shift to an overweight of large-caps. We are also seeing bullish price and RS inflections for developed int’l markets particularly due to strength in Japan, which helps support our bullish outlook for the U.S.  In addition to a complete strategy recap, we highlight attractive Groups and stocks within the Energy and Transportation Sectors.

U.S. Equity Strategy: Shifting to Large-Cap Overweight, Energy Improving

Outside of weakness in interest-rate sensitive segments, namely REITs and Utilities, the latter which is breaking down to 15-year relative strength lows, U.S. equity market technicals remain constructive. And allowing for occasional back and filling, we expect this bullish trend to continue. In today's report, we outline our investment thesis and highlight actionable names in energy service stocks.

Outside of weakness in interest-rate sensitive segments, namely REITs and Utilities, the latter which is breaking down to 15-year relative strength lows, U.S. equity market technicals remain constructive. And allowing for occasional back and filling, we expect this bullish trend to continue. In today's report, we outline our investment thesis and highlight actionable names in energy service stocks.

Energy Expert

Thierry Bros, PhD

Thierrybros.com

Interesting article in the Financial Time (FT) on stock exchanges fighting for Saudi Aramco IPO <a href="https://www.ft.com/content/41af604e-0315-11e7-ace0-1ce02ef0def9" target="_blank">https://www.ft.com/content/41af604e-0315-11e7-ace0-1ce02ef0def9 </a>with the following conclusion "Saudi Aramco will initially list as much as 5% of the company and investors and analysts have questioned the size of Riyadh’s $2tn valuation. But even if it reaches just half that target it would still raise $50bn — twice as much as Alibaba’s record IPO in 2014."Back in <a href="https://www.smartkarma.com/insights/saudi-aramco-value-tn-maybe-not" target="_blank" data-smartkarma-citation="insights:8177">Saudi Aramco Value: $tn? Maybe Not!</a> my…

Interesting article in the Financial Time (FT) on stock exchanges fighting for Saudi Aramco IPO https://www.ft.com/content/41af604e-0315-11e7-ace0-1ce02ef0def9 with the following conclusion "Saudi Aramco will initially list as much as 5% of the company and investors and analysts have questioned the size of Riyadh’s $2tn valuation. But even if it reaches just half that target it would still raise $50bn — twice as much as Alibaba’s record IPO in 2014."Back in Saudi Aramco Value: $tn? Maybe Not! my…

New York and London Battle for Saudi Aramco IPO

United Kingdom

Noble Corporation PLC provides diversified services for the oil and gas industry. The Company provides contract drilling services with its fleet of offshore drilling units located in markets worldwide.  Noble also provides labor contract drilling services, well site and project management services, and engineering services.

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Noble Corp Plc (NE US)

Noble Corporation plc: Initiation Of Coverage - A Tale Of Increased Demand and Better Rates in the North Sea Drilling Market! - Major Drivers

Noble Corporation's Q4 2023 earnings revealed a steady operational performance despite certain headwinds. Despite delays in contract commencement...

Baptista Research

#15Business Buzz: Noble Acquires Diamond Offshore, Southwest Stock Jumps, Europe Attracts Chinese EV

Noble expands with Diamond Offshore merger, Southwest shares rise with $2 billion recovery plan, Chinese EV makers eye Europe despite tariffs.

Nimish Maheshwari

U.S. Equity Strategy: Shifting to Large-Cap Overweight, Energy Improving

The S&P 500’s steady uptrend remains intact. The large-cap (S&P 500) vs. small-cap (S&P 600) ratio is breaking out to multi-month...

Vermilion Research

U.S. Equity Strategy Weekly

Outside of weakness in interest-rate sensitive segments, namely REITs and Utilities, the latter which is breaking down to 15-year relative strength...

Vermilion Research

New York and London Battle for Saudi Aramco IPO

Interesting article in the Financial Time (FT) on stock exchanges fighting for Saudi Aramco IPO...

Thierry Bros, PhD

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52-week Range

Market Cap (USDm)

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Dividend (Yield)

Noble Corporation plc: Initiation Of Coverage - A Tale Of Increased Demand and Better Rates in the North Sea Drilling Market! - Major Drivers

Noble Corporation's Q4 2023 earnings revealed a steady operational performance despite certain headwinds. Despite delays in contract commencement...

Baptista Research

#15Business Buzz: Noble Acquires Diamond Offshore, Southwest Stock Jumps, Europe Attracts Chinese EV

​Noble expands with Diamond Offshore merger, Southwest shares rise with $2 billion recovery plan, Chinese EV makers eye Europe despite tariffs.

Nimish Maheshwari

U.S. Equity Strategy: Shifting to Large-Cap Overweight, Energy Improving

The S&P 500’s steady uptrend remains intact. The large-cap (S&P 500) vs. small-cap (S&P 600) ratio is breaking out to multi-month...

Vermilion Research

U.S. Equity Strategy Weekly

Outside of weakness in interest-rate sensitive segments, namely REITs and Utilities, the latter which is breaking down to 15-year relative strength...

Vermilion Research

New York and London Battle for Saudi Aramco IPO

Interesting article in the Financial Time (FT) on stock exchanges fighting for Saudi Aramco IPO...

Thierry Bros, PhD

Noble expands with Diamond Offshore merger, Southwest shares rise with $2 billion recovery plan, Chinese EV makers eye Europe despite tariffs.