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>Papa John's International, Inc. recently reported a mixed first quarter of 2024, demonstrating resilience in some areas of its operations while facing pressures in others.</li><li>The company has introduced a series of initiatives under its "Back to Better 2.0" strategy aimed at revitalizing the brand and enhancing profitability, yet it is still navigating through several challenges.</li><li>On the positive side, Papa John's has launched several strategic measures to improve its marketing effectiveness and brand visibility.</li></ul>

Papa John's International, Inc. recently reported a mixed first quarter of 2024, demonstrating resilience in some areas of its operations while facing pressures in others.The company has introduced a series of initiatives under its "Back to Better 2.0" strategy aimed at revitalizing the brand and enhancing profitability, yet it is still navigating through several challenges.On the positive side, Papa John's has launched several strategic measures to improve its marketing effectiveness and brand visibility.

Papa John's International: Is The Focus on Aggregator and Digital Channels Paying Off? - Major Drivers

<ul><li>Papa John's International, Inc. reported another year of record global system-wide sales for the fourth consecutive year of positive North America comps in 2023.</li><li>The company's success is attributed to the dedication and focus of its team, franchisees, and the restructuring efforts, especially the foundation improvements to restaurant operations, menu amelioration with novel products, the digital advancements of their operations platforms, and the expansion of the restaurant footprint.</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>

Papa John's International, Inc. reported another year of record global system-wide sales for the fourth consecutive year of positive North America comps in 2023.The company's success is attributed to the dedication and focus of its team, franchisees, and the restructuring efforts, especially the foundation improvements to restaurant operations, menu amelioration with novel products, the digital advancements of their operations platforms, and the expansion of the restaurant footprint.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.

Papa John's International Inc.: Initiation Of Coverage - Are Its Growth Prospects As Delicious As Its Pizza? - 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

Despite the Nasdaq 100 getting quantitatively extended, the weight of the evidence continues to suggest that our bullish outlook remains appropriate. We elaborate below and also highlight some developments we are watching that could alter our outlook. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary &amp; Health Care: Restaurants, Fast Food, Small-Cap, Casual Dining, and Hospitals.

Despite the Nasdaq 100 getting quantitatively extended, the weight of the evidence continues to suggest that our bullish outlook remains appropriate. We elaborate below and also highlight some developments we are watching that could alter our outlook. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary &amp; Health Care: Restaurants, Fast Food, Small-Cap, Casual Dining, and Hospitals.

U. S. Equity Strategy: Still Bullish, But Also Extended Near-Term

This market is still fighting an uphill battle following the S&amp;P 500's breakdown below its 200-day moving average - a level that is now acting as formidable resistance. Our outlook remains extremely cautious due to overhead supply and the additional themes highlighted within this report.  There are a few bright spots, also in today's report we highlight attractive Groups and stocks within the Communications and Consumer Discretionary Sectors.

This market is still fighting an uphill battle following the S&amp;P 500's breakdown below its 200-day moving average - a level that is now acting as formidable resistance. Our outlook remains extremely cautious due to overhead supply and the additional themes highlighted within this report.  There are a few bright spots, also in today's report we highlight attractive Groups and stocks within the Communications and Consumer Discretionary Sectors.

U.S. Equity Update: Internals Deteriorating, Banks & Semis Have Broken Down.

United States

Monarch Casino & Resort, Inc., through its wholly owned subsidiary, owns and operates the tropically-themed Atlantis Casino Resort in Reno, Nevada.  The resort features a casino, a hotel and motor lounge, restaurants, bars, a nightclub, a swimming pool and health club, a gift shop, a family entertainment center, banquet and meeting space, and surface parking spaces.

Dave & Buster's Entertainment Inc. owns and operates high-volume venues that combine dining and entertainment in North America for both adults and families. The Company operates entertainment centers that offer a full menu of food and beverage items combined with an wide assortment of entertainment attractions, including skill and sports-oriented redemption games.

Dave & Buster'S Entertainment, Inc (PLAY US)

Jack in the Box Inc. operates and franchises Jack in the Box fast-food restaurants and Qdoba Mexican Grill restaurants. The Company provides a variety of food items including hamburgers, specialty sandwiches, salads, Mexican food, finger foods, and side items. Jack in the Box offers its products and services throughout the United States and Canada.

Bloomin' Brands Inc. owns and operates a chain of casual dining restaurants. The Company offers its products and services through company owned and franchised locations throughout the United States and internationally.

Cracker Barrel Old Country Store, Inc. operates restaurants. The Company serves various breakfast, lunch, and dinner dishes such as pancakes, sandwiches, fried chicken, and ice cream. Cracker Barrel Old Country Store serves customers throughout the United States.

BJ's Restaurants Inc owns and operates restaurants under the names BJ's Restaurant & Brewery, BJ's Pizza & Grill, and BJ's Restaurant & Brewhouse.  The Company's restaurants are located in Colorado, Oregon, California, Arizona, Texas, and Nevada.

Golden Entertainment, Inc. operates as a diverse gaming company. The Company offers casino, distribute gaming, and lottery services. Golden Entertainment serves customers in the United States.

Ruth's Hospitality Group Inc. operates a chain of upscale steak houses. The Company's restaurants are located throughout the United States and in several international locations.

Biglari Holdings Inc. operates as a holding company. The Company, through its subsidiaries, invests in food and insurance companies. Biglari Holdings serves clients in the State of Texas.

Chuy's Holdings Inc. is a full-service restaurant concept offering a distinct menu of authentic Mexican food.  The Company operates chains throughout Texas, Alabama, Indiana, Kentucky, and Tennessee.

FUJI KYUKO CO., LTD. provides passenger rail and bus transportation and taxi services in Shizuoka, Yamanashi, and Kanagawa prefectures.  The Company leases and sells real estate, operates department store, and offers construction works. Fuji Kyuko also operates amusement parks, hotels, golf course, skiing ground, restaurants, and other leisure-related businesses.

RESORTTRUST, INC. plans, develops, markets, and operates timeshare resort hotels under the "XIV" and "SUN MEMBERS" brand name.  The Company's resort facilities are located in the suburb of major Japanese cities.  Resorttrust operates golf courses.

ICHIBANYA CO., LTD. operates a chain of restaurants specialized in curry dishes nationwide.  The Company operates both franchise and directly managed restaurants.  The Company also sells its curry by mail order.

The Hongkong and Shanghai Hotels, Limited, through its subsidiaries, operates and manages hotels, food, beverage outlets, and clubs. The Company also invests in properties.

Hotel Properties Limited, through its subsidiaries, operates and manages hotels. The Company also operates restaurants and retails and distributes food and fashion merchandise.  In addition, Hotel Properties trades shares, develops and invests in properties, hotels, and resorts.

ROUND ONE Corporation operates bowling alleys and video game arcades.  The Company operates primarily in the Osaka area.

Thomas Cook (India) Ltd. operates as an authorized dealer in foreign exchange and as a travel agent. The Company also offers packaged tours, cargo services and travel related insurance. Thomas Cook (India) has offices and foreign exchange counters at various international airports in major cities in India.

Corporate Travel Management Ltd. offers corporate travel management services. The Company operates on a fee for service model and provides business travel advice and services; bookings; ticketing, and ancillary services; and offers travel data diagnostics and recommendations.

create restaurants holdings inc. operates direct-run Western, Chinese, and Japanese restaurants.  The Company also operates fast food restaurants.

create restaurants holdings inc. (3387 JP)

Mahindra Holidays & Resorts India Ltd. provides leisure hospitality. The Company offers family holidays with a range of services through vacation memberships. Mahindra Holidays gives its members the choice to stay at resorts with furnished accommodations, such as apartments and cottages, and resort amenities, such as restaurants, kids clubs, and other activities.

Papa John's International, Inc. operates and franchises pizza delivery and carry-out restaurants under the Papa John's trademark.  The Company operates restaurants in the United States and international markets.

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Papa John'S Intl (PZZA US)

Papa John's International: Is The Focus on Aggregator and Digital Channels Paying Off? - Major Drivers

Papa John's International, Inc. recently reported a mixed first quarter of 2024, demonstrating resilience in some areas of its operations while...

Baptista Research

Papa John's International Inc.: Initiation Of Coverage - Are Its Growth Prospects As Delicious As Its Pizza? - Major Drivers

Papa John's International, Inc. reported another year of record global system-wide sales for the fourth consecutive year of positive North America...

Baptista Research

U. S. Equity Strategy: Still Bullish, But Also Extended Near-Term

Despite the Nasdaq 100 getting quantitatively extended, the weight of the evidence continues to suggest that our bullish outlook remains...

Vermilion Research

U.S. Equity Update: Internals Deteriorating, Banks & Semis Have Broken Down.

This market is still fighting an uphill battle following the S&P 500's breakdown below its 200-day moving average - a level that is now acting...

Vermilion Research

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