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>The recent earnings of Sempra highlights both the strengths and challenges the company is navigating.</li><li>Sempra has reported third-quarter 2024 adjusted earnings per share (EPS) of $0.89, compared to $1.08 in the same quarter last year, showcasing a decline which might raise some concerns among investors.</li><li>This annual decrease was noted despite an increase in revenues due to higher operating costs and interest expenses, alongside regulatory and tax-related headwinds.</li></ul>

The recent earnings of Sempra highlights both the strengths and challenges the company is navigating.Sempra has reported third-quarter 2024 adjusted earnings per share (EPS) of $0.89, compared to $1.08 in the same quarter last year, showcasing a decline which might raise some concerns among investors.This annual decrease was noted despite an increase in revenues due to higher operating costs and interest expenses, alongside regulatory and tax-related headwinds.

Sempra Energy: An Insight Into Its Progress & Expansion in LNG Business & Other Major Drivers

<ul><li>Sempra reported a robust financial performance for the second quarter of 2024, with several operational and strategic highlights Standing firmly on its commitment to safety, reliability, and advancing decarbonization efforts, Sempra is actively navigating the evolving energy landscape.</li><li>California operations under Sempra continue to support the state's objectives around safety and decarbonization.</li><li>Significant advancements include participation in decarbonization initiatives and developments around hydrogen hubs which are aligned with California's far-reaching climate goals.</li></ul>

Sempra reported a robust financial performance for the second quarter of 2024, with several operational and strategic highlights Standing firmly on its commitment to safety, reliability, and advancing decarbonization efforts, Sempra is actively navigating the evolving energy landscape.California operations under Sempra continue to support the state's objectives around safety and decarbonization.Significant advancements include participation in decarbonization initiatives and developments around hydrogen hubs which are aligned with California's far-reaching climate goals.

Sempra Energy: Will Its Strategic Investments In Renewable & Clean Energy Pay Off? - Major Drivers

<ul><li>Sempra's first quarter of 2024 results showcases a strong start to the year, affirming its robust financial health and diligent strategic execution across its various segments.</li><li>This report, reflecting on certain financial and strategic developments, delves into both the achievements and the areas of persistent challenge within the company, thereby providing a comprehensive overview for potential investors.</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>

Sempra's first quarter of 2024 results showcases a strong start to the year, affirming its robust financial health and diligent strategic execution across its various segments.This report, reflecting on certain financial and strategic developments, delves into both the achievements and the areas of persistent challenge within the company, thereby providing a comprehensive overview for potential investors.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.

Sempra Energy: Initiation of Coverage - What Is Its Biggest Competitive Advantage? - 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>Price action on SPX is extremely similar to prior major topping patterns in April 2000 and August 2007, which is why we recommended reducing risk near 5670-5783 last week.</li>
<li>Additional similarities to 2000/2007 (other than price action) include the Fed cutting rates, recession indicators such as the Sahm rule and Schannep Recession Indicator (SRI) triggered, and yield curve un-inverting.</li>
<li>SPX resistance is in the 5670-5783 range; if a major top is happening, that is where it would start from (using the 2000 and 2007 tops as comparisons).</li>
</ul>


Price action on SPX is extremely similar to prior major topping patterns in April 2000 and August 2007, which is why we recommended reducing risk near 5670-5783 last week.
Additional similarities to 2000/2007 (other than price action) include the Fed cutting rates, recession indicators such as the Sahm rule and Schannep Recession Indicator (SRI) triggered, and yield curve un-inverting.
SPX resistance is in the 5670-5783 range; if a major top is happening, that is where it would start from (using the 2000 and 2007 tops as comparisons).


Recessionary Signals as SPX Tests Resistance; Downgrading Energy to Underweight

<ul>
<li>The SPX is back near YTD highs and testing resistance in the 5670-5783 range, and we view this as an ideal time to reduce risk and shift to defensives.</li>
<li>We continue to believe that the SPX and Nasdaq 100 (QQQ) are going through a 1- to 4-month pullback/consolidation that could end up being a topping pattern.</li>
<li>After laying out expectations in our 8/13/24 Compass report for a bounce and test of YTD highs, we now expect SPX to roll over near current levels </li>
</ul>


The SPX is back near YTD highs and testing resistance in the 5670-5783 range, and we view this as an ideal time to reduce risk and shift to defensives.
We continue to believe that the SPX and Nasdaq 100 (QQQ) are going through a 1- to 4-month pullback/consolidation that could end up being a topping pattern.
After laying out expectations in our 8/13/24 Compass report for a bounce and test of YTD highs, we now expect SPX to roll over near current levels 


Upgrading Utilities to Overweight; Expecting $SPX to Roll Over; NVDA and SMH Topping?

United States

Sempra Energy is an energy services holding company with operations throughout the United States, Mexico, and other countries in South America.  The Company, through its subsidiaries, generates electricity, delivers natural gas, operates natural gas pipelines and storage facilities, and operates a wind power generation project.

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Sempra Energy (SRE US)

Sempra Energy: An Insight Into Its Progress & Expansion in LNG Business & Other Major Drivers

The recent earnings of Sempra highlights both the strengths and challenges the company is navigating. Sempra has reported third-quarter 2024...

Baptista Research

Sempra Energy: Will Its Strategic Investments In Renewable & Clean Energy Pay Off? - Major Drivers

Sempra reported a robust financial performance for the second quarter of 2024, with several operational and strategic highlights Standing firmly...

Baptista Research

Sempra Energy: Initiation of Coverage - What Is Its Biggest Competitive Advantage? - Major Drivers

Sempra's first quarter of 2024 results showcases a strong start to the year, affirming its robust financial health and diligent strategic...

Baptista Research

Recessionary Signals as SPX Tests Resistance; Downgrading Energy to Underweight

Recessionary Signals as $SPX Tests Resistance; Downgrading Energy $XLE to Underweight; WTI Crude Oil Breakdown. Still expecting more downside. $XLB...

Vermilion Research

Upgrading Utilities to Overweight; Expecting $SPX to Roll Over; NVDA and SMH Topping?

Upgrading Utilities $XLU to Overweight; Many Indexes Testing Resistance $SPX $DJI $IJH $IWM $XRT $EEM; Expecting SPX to Roll Over; $NVDA and $SMH...

Vermilion Research

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