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>Teledyne Technologies Incorporated reported an impressive performance for the third quarter of 2024, achieving all-time record sales with growth in each business segment.</li><li>This growth was fueled by robust demand in their longer-cycle defense, space, and energy sectors, though sales in most short-cycle commercial businesses have either stabilized or begun to recover sequentially.</li><li>The company continued aggressive capital management strategies during the quarter, including repurchasing approximately $354 million of its stock, completing two acquisitions valued at $125 million, and repaying $450 million in gross debt.</li></ul>

Teledyne Technologies Incorporated reported an impressive performance for the third quarter of 2024, achieving all-time record sales with growth in each business segment.This growth was fueled by robust demand in their longer-cycle defense, space, and energy sectors, though sales in most short-cycle commercial businesses have either stabilized or begun to recover sequentially.The company continued aggressive capital management strategies during the quarter, including repurchasing approximately $354 million of its stock, completing two acquisitions valued at $125 million, and repaying $450 million in gross debt.

Teledyne Technologies: Can They Capitalize On The Strengthening Defense & Energy Markets? - Major Drivers

<ul><li>Investors evaluating Teledyne Technologies Incorporated should consider both the achievements and challenges reported in their latest financial updates.</li><li>Notably, the company achieved record free cash flow, allowing for significant allocations towards debt repayment, acquisitions, and stock buybacks.</li><li>This demonstrates adept financial management and the capability to maintain operational flexibility.</li></ul>

Investors evaluating Teledyne Technologies Incorporated should consider both the achievements and challenges reported in their latest financial updates.Notably, the company achieved record free cash flow, allowing for significant allocations towards debt repayment, acquisitions, and stock buybacks.This demonstrates adept financial management and the capability to maintain operational flexibility.

Teledyne Technologies Incorporated: Will The Improving Trends in Test & Measurement Instruments Last? - Major Drivers

<ul><li>Teledyne Technologies, a prominent industrial conglomerate focused on aerospace and defense, instrumentation, digital imaging, and engineered systems, reported its Q1 2024 earnings.</li><li>In the call, management touted robust results including record first quarter non-GAAP operating margin, record adjusted earnings per share, and record free cash flow.</li><li>The company's strong performance was driven by growth in its marine, aviation, and select defense businesses which offset sales declines in other areas.</li></ul>

Teledyne Technologies, a prominent industrial conglomerate focused on aerospace and defense, instrumentation, digital imaging, and engineered systems, reported its Q1 2024 earnings.In the call, management touted robust results including record first quarter non-GAAP operating margin, record adjusted earnings per share, and record free cash flow.The company's strong performance was driven by growth in its marine, aviation, and select defense businesses which offset sales declines in other areas.

Teledyne Technologies Incorporated: Initiation Of Coverage - What Is Their Segmentwise Performance & Future Outlook?  - Major Drivers

Equity Long-Short Analyst

Pyari Menon

<ul>
<li>With its <a href="https://www.smartkarma.com/entities/danaher-corp" target="_blank" data-smartkarma-citation="entities:8243:1" rel="noopener">Danaher Corp (DHR US)</a> heritage, <a href="https://www.smartkarma.com/entities/veralto-corp" target="_blank" data-smartkarma-citation="entities:40472:1" rel="noopener">Veralto (VLTO US)</a> has built a foundation based on durable and recurring sales growth, high profitability, and strong cash generation.</li>
<li>Veralto's products and services are mission-critical yet account for less than 1% of client costs, leading to high switching costs and ensuring customer retention and financial resilience through economic cycles.</li>
<li>Veralto holds market leadership in both its Water Quality (WQ) and Product Quality &amp; Innovation (PQI) segments, which positions it well for the increasing regulatory and environmental demands. .</li>
</ul>


With its Danaher Corp (DHR US) heritage, Veralto (VLTO US) has built a foundation based on durable and recurring sales growth, high profitability, and strong cash generation.
Veralto's products and services are mission-critical yet account for less than 1% of client costs, leading to high switching costs and ensuring customer retention and financial resilience through economic cycles.
Veralto holds market leadership in both its Water Quality (WQ) and Product Quality &amp; Innovation (PQI) segments, which positions it well for the increasing regulatory and environmental demands. .


Veralto: The Power of Customer Dependency and Recurring Revenue

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Datasite's A$2.50/share, in cash, lifetime-high Offer for virtual room provider <strong><a href="https://www.smartkarma.com/entities/ansarada-group-ltd" target="_blank" data-smartkarma-citation="entities:30718:1" rel="noopener">Ansarada Group Ltd (AND AU)</a></strong>, announced on the 13th Feb, appeared a total slam dunk. </li>
<li>And for the most part it was, with the Explanatory Doc lodged on the 12th April, and Scheme Meeting initially scheduled for the 14th June. Then the ACCC waded in. </li>
<li>The ACCC has now signed off. FIRB will follow shortly.  The revised Scheme Meeting will be held on the 19 August, with expected implementation on the 6 September.  </li>
</ul>


Datasite's A$2.50/share, in cash, lifetime-high Offer for virtual room provider Ansarada Group Ltd (AND AU), announced on the 13th Feb, appeared a total slam dunk. 
And for the most part it was, with the Explanatory Doc lodged on the 12th April, and Scheme Meeting initially scheduled for the 14th June. Then the ACCC waded in. 
The ACCC has now signed off. FIRB will follow shortly.  The revised Scheme Meeting will be held on the 19 August, with expected implementation on the 6 September.  


Ansarada (AND AU)'s Scheme Is Back On Track

United States

Teledyne Technologies Inc. provides electronic subsystems and instrumentation. The Company provides aerospace and defense electronics, digital imaging products & software, monitoring instrumentation for marine & environmental applications, harsh environment interconnect products, and subsystems for satellite communications.  Teledyne also provides engineered systems.

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Teledyne Technologies (TDY US)

Teledyne Technologies: Can They Capitalize On The Strengthening Defense & Energy Markets? - Major Drivers

Teledyne Technologies Incorporated reported an impressive performance for the third quarter of 2024, achieving all-time record sales with growth...

Baptista Research

Teledyne Technologies Incorporated: Will The Improving Trends in Test & Measurement Instruments Last? - Major Drivers

Investors evaluating Teledyne Technologies Incorporated should consider both the achievements and challenges reported in their latest financial...

Baptista Research

Teledyne Technologies Incorporated: Initiation Of Coverage - What Is Their Segmentwise Performance & Future Outlook? - Major Drivers

Teledyne Technologies, a prominent industrial conglomerate focused on aerospace and defense, instrumentation, digital imaging, and engineered...

Baptista Research

Veralto: The Power of Customer Dependency and Recurring Revenue

Veralto's products and services are typically low cost but critical leading to high recurring sales, solid profitability and a leadership position...

Pyari Menon

Ansarada (AND AU)'s Scheme Is Back On Track

Trading at a gross/annualised spread of 1.6%/15.4%. If small, clean, illiquid arbs are your thing, get involved here and on any pullback.

David Blennerhassett

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