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

Norwegian Cruise Line Holdings / Equity Bottom-Up

<ul><li>Norwegian Cruise Line Holdings (NCLH) showcased robust financial results for the third quarter of 2024, persistently outshining its prior forecasts and reinforcing positive trends seen throughout the year.</li><li>In the earnings call, a concise analysis was provided, demonstrating a combination of strong strategic execution and sustained robust demand that contributed to the exceptional performance, including the highest quarterly gross revenue and adjusted EBITDA in the company's history.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Norwegian Cruise Line Holdings (NCLH) showcased robust financial results for the third quarter of 2024, persistently outshining its prior forecasts and reinforcing positive trends seen throughout the year.In the earnings call, a concise analysis was provided, demonstrating a combination of strong strategic execution and sustained robust demand that contributed to the exceptional performance, including the highest quarterly gross revenue and adjusted EBITDA in the company's history.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Inside Norwegian Cruise Line’s Game-Changing Fleet Expansion & Revenue Boosting Strategies!  - Major Drivers

<ul><li>Norwegian Cruise Line Holdings recently discussed its financial performance for the second quarter of 2024, and the results have been promising, outperforming the company's expectations and leading to upward revisions in full-year guidance.</li><li>President and CEO Harry Sommer along with CFO Mark Kempa provided an overview of the quarter's milestones, emphasizing the company's strategic balance between return on experience (ROX) and return on investment (ROI).</li><li>The positive outcomes from the quarter were underpinned by robust demand and strong pricing dynamics, leading to record-breaking advanced ticket sales.</li></ul>

Norwegian Cruise Line Holdings recently discussed its financial performance for the second quarter of 2024, and the results have been promising, outperforming the company's expectations and leading to upward revisions in full-year guidance.President and CEO Harry Sommer along with CFO Mark Kempa provided an overview of the quarter's milestones, emphasizing the company's strategic balance between return on experience (ROX) and return on investment (ROI).The positive outcomes from the quarter were underpinned by robust demand and strong pricing dynamics, leading to record-breaking advanced ticket sales.

Norwegian Cruise Line Holdings Ltd.: These Are The 4 Major Growth Levers Driving Our 'Buy' Rating! - Financial Forecasts

<ul><li>Norwegian Cruise Line Holdings Ltd. has reported a strong start to the first quarter of 2024, showcasing significant progress in various operational and financial metrics amidst a robust market demand for cruise vacations.</li><li>The company has continued its trajectory of recovery and growth, driven by strategic investments across its three brands and a focus on sustainable practices.</li><li>The company's robust performance is highlighted by a record number of bookings and a strong forward booked position indicating ongoing strong demand for cruise travel.</li></ul>

Norwegian Cruise Line Holdings Ltd. has reported a strong start to the first quarter of 2024, showcasing significant progress in various operational and financial metrics amidst a robust market demand for cruise vacations.The company has continued its trajectory of recovery and growth, driven by strategic investments across its three brands and a focus on sustainable practices.The company's robust performance is highlighted by a record number of bookings and a strong forward booked position indicating ongoing strong demand for cruise travel.

Norwegian Cruise Line Holdings: Strategic Private Island Investments & Improvements To Propel Its Growth! - Major Drivers

<ul><li>This is our first report on cruise operator, Norwegian Cruise Line Holdings.</li><li>The company achieved record revenue, meeting or exceeding the guidance on all key metrics.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

This is our first report on cruise operator, Norwegian Cruise Line Holdings.The company achieved record revenue, meeting or exceeding the guidance on all key metrics.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Norwegian Cruise Line Holdings: Initiation of Coverage - An Unprecedented Financial U-Turn: How Norwegian Cruise Line is Transforming Its Future Fortunes! - 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>Outlook remains bullish following the SPX multi-month base breakout above 5670-5783, alongside constructive market dynamics. The market is quite clearly telling us that the path of least resistance is higher.</li>
<li>We would treat any pre-election pullback (if it comes) as a buying opportunity, and we expect to see support on the SPX at 5760 and 5655-5670.</li>
<li>We believe there will be a strong end-of-year rally that will extend into the early part of 2025 due to bullish end-of-year seasonal tendencies during up years (SPX +22.1% YTD).</li>
</ul>


Outlook remains bullish following the SPX multi-month base breakout above 5670-5783, alongside constructive market dynamics. The market is quite clearly telling us that the path of least resistance is higher.
We would treat any pre-election pullback (if it comes) as a buying opportunity, and we expect to see support on the SPX at 5760 and 5655-5670.
We believe there will be a strong end-of-year rally that will extend into the early part of 2025 due to bullish end-of-year seasonal tendencies during up years (SPX +22.1% YTD).


Downgrading Health Care $XLV to Underweight; Bullish Outlook Intact $SPX; Bitcoin Breaking Out

United States

Norwegian Cruise Line Holdings Ltd. operates a fleet of passenger cruise ships. The Company offers an array of cruise itineraries as well as theme cruises, while markets its services through various distribution channels including retail and travel agents, consumer direct, international sales, as well as incentive sales. Norwegian Cruise extends its services worldwide.

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Norwegian Cruise Line Holdings (NCLH US)

Inside Norwegian Cruise Line’s Game-Changing Fleet Expansion & Revenue Boosting Strategies! - Major Drivers

Norwegian Cruise Line Holdings (NCLH) showcased robust financial results for the third quarter of 2024, persistently outshining its prior...

Baptista Research

Norwegian Cruise Line Holdings Ltd.: These Are The 4 Major Growth Levers Driving Our 'Buy' Rating! - Financial Forecasts

Norwegian Cruise Line Holdings recently discussed its financial performance for the second quarter of 2024, and the results have been promising,...

Baptista Research

Norwegian Cruise Line Holdings: Strategic Private Island Investments & Improvements To Propel Its Growth! - Major Drivers

Norwegian Cruise Line Holdings Ltd. has reported a strong start to the first quarter of 2024, showcasing significant progress in various...

Baptista Research

Norwegian Cruise Line Holdings: Initiation of Coverage - An Unprecedented Financial U-Turn: How Norwegian Cruise Line is Transforming Its Future Fortunes! - Major Drivers

This is our first report on cruise operator, Norwegian Cruise Line Holdings. The company achieved record revenue, meeting or exceeding the...

Baptista Research

Downgrading Health Care $XLV to Underweight; Bullish Outlook Intact $SPX; Bitcoin Breaking Out

Downgrading Health Care $XLV to Underweight; Bullish Outlook Intact $SPX $QQQ $NDX $IWM; Bitcoin and Silver Breaking Out $IBIT $SLV. Pullbacks =...

Vermilion Research

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