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>RH, previously Restoration Hardware, exhibited positive stride in its financial and operational endeavors during the second quarter of fiscal 2024, as outlined in its latest earnings call.</li><li>The results were mostly favorable with noteworthy highlights such as a 7% increase in demand and 3.6% growth in revenues amounting to $830 million compared to the previous year.</li><li>This growth was propelled by strategic expansions and product transformations, notable investments during an economically challenging phase, and detailed preparation for projected housing market rebound.</li></ul>

RH, previously Restoration Hardware, exhibited positive stride in its financial and operational endeavors during the second quarter of fiscal 2024, as outlined in its latest earnings call.The results were mostly favorable with noteworthy highlights such as a 7% increase in demand and 3.6% growth in revenues amounting to $830 million compared to the previous year.This growth was propelled by strategic expansions and product transformations, notable investments during an economically challenging phase, and detailed preparation for projected housing market rebound.

RH (Restoration Hardware): Brand Image Transcendence & Other Major Drivers

<ul><li>RH reported results for the first quarter of fiscal 2023 that showed both positive elements and areas for concern, which hold implications for investors considering a position in the company.</li><li>Starting with the positives, RH noted an uptick in demand trends within the quarter.</li><li>The company has engaged in a significant product overhaul and platform expansion, which has begun showing promising results despite a heavily challenged housing market.</li></ul>

RH reported results for the first quarter of fiscal 2023 that showed both positive elements and areas for concern, which hold implications for investors considering a position in the company.Starting with the positives, RH noted an uptick in demand trends within the quarter.The company has engaged in a significant product overhaul and platform expansion, which has begun showing promising results despite a heavily challenged housing market.

RH (Restoration Hardware): How Are They Expanding Into New Markets? - Major Drivers

<ul><li>Restoration Hardware (RH) has consistently demonstrated its resilience in the face of various market challenges.</li><li>RH's Q3 2023 earnings call reiterated this persistence as the company navigated through higher-than anticipated expenses and a challenging housing market, reflecting on both the areas of strength and weakness in the company’s financial performance.</li><li>One of the highlights was that the company's net revenues for the quarter stood at $751 million, which was at the midpoint of its guidance.</li></ul>

Restoration Hardware (RH) has consistently demonstrated its resilience in the face of various market challenges.RH's Q3 2023 earnings call reiterated this persistence as the company navigated through higher-than anticipated expenses and a challenging housing market, reflecting on both the areas of strength and weakness in the company’s financial performance.One of the highlights was that the company's net revenues for the quarter stood at $751 million, which was at the midpoint of its guidance.

RH (Restoration Hardware): Initiation Of Coverage - What Is Their Biggest Competitive Advantage? - 5 Major Growth Drivers

Quality-first, Business-perspective Strategy, Urbem (HK) Limited

Steven Chen

Quality-first, Business-perspective Strategy

<ul>
<li>RH is the only luxury lifestyle brand at scale on this planet;</li>
<li>Both qualitative and quantitative evidence point to the emerging and probably widening economic moat around the business;</li>
<li>We see rich optionality regarding RH's growth trajectory moving forward;</li>
</ul>


RH is the only luxury lifestyle brand at scale on this planet;
Both qualitative and quantitative evidence point to the emerging and probably widening economic moat around the business;
We see rich optionality regarding RH's growth trajectory moving forward;


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

<div>Ongoing market dynamics remain largely positive and there continues to be an absence of major breakdowns across all Sectors and the major averages. As a result, we expect higher prices ahead and recommend adding exposure on pullbacks. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary and Health Care.</div>

Ongoing market dynamics remain largely positive and there continues to be an absence of major breakdowns across all Sectors and the major averages. As a result, we expect higher prices ahead and recommend adding exposure on pullbacks. In today’s report we highlight attractive Groups and stocks within Consumer Discretionary and Health Care.

S&P 500, Russell 2000 Testing Short-Term Support

United States

RH distributes home furnishing products. The Company offers products such as furniture, lighting, textiles, bathware, decor, outdoor, and garden, as well as baby and child products. RH distributes its products through retail stores, catalogs, and websites.

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RH (RH US)

RH (Restoration Hardware): Brand Image Transcendence & Other Major Drivers

RH, previously Restoration Hardware, exhibited positive stride in its financial and operational endeavors during the second quarter of fiscal...

Baptista Research

RH (Restoration Hardware): How Are They Expanding Into New Markets? - Major Drivers

RH reported results for the first quarter of fiscal 2023 that showed both positive elements and areas for concern, which hold implications for...

Baptista Research

RH (Restoration Hardware): Initiation Of Coverage - What Is Their Biggest Competitive Advantage? - 5 Major Growth Drivers

Restoration Hardware (RH) has consistently demonstrated its resilience in the face of various market challenges. RH's Q3 2023 earnings call...

Baptista Research

RH: A One-Of-Its-Kind Business

Short-termist Mr. Market appears quite bearish on this winning luxury lifestyle brand, creating opportunities for long-term, patient investors.

Steven Chen

S&P 500, Russell 2000 Testing Short-Term Support

Ongoing market dynamics remain largely positive across all Sectors and the major averages. As a result, we expect higher prices ahead and recommend...

Vermilion Research

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