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.

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<ul><li>Tesla inches closer to the target price from our last report as the company has already achieved a record production and deliveries in the second quarter of 2021 and the company surpassed the $1 billion net income threshold for the first time.</li><li>The management is looking to regain its lost momentum in China after the recent public scrutiny over safety and customer service complaints.</li><li>We are optimistic about Tesla, and we also maintain a 'Hold' rating with a fresh target price.</li></ul>

Tesla inches closer to the target price from our last report as the company has already achieved a record production and deliveries in the second quarter of 2021 and the company surpassed the $1 billion net income threshold for the first time.The management is looking to regain its lost momentum in China after the recent public scrutiny over safety and customer service complaints.We are optimistic about Tesla, and we also maintain a 'Hold' rating with a fresh target price.

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Vicki Bryan

Founder & CEO Bond Angle, LLC

Bond Angle, LLC

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<a href="https://www.smartkarma.com/entities/tesla-motors-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla Motors (TSLA US)</a> local deliveries in China plunged to lowest since April 2020. So Tesla punted record exports to Europe and elsewhere where they also didn't sell.Such disappointing China sales are a troubling signal that July started off what could be a softer than expected third quarter.

Tesla Motors (TSLA US) local deliveries in China plunged to lowest since April 2020. So Tesla punted record exports to Europe and elsewhere where they also didn't sell.Such disappointing China sales are a troubling signal that July started off what could be a softer than expected third quarter.

Bloomberg reported that <a href="https://www.smartkarma.com/entities/nikola-corp" target="_blank" data-smartkarma-citation="entities:29029:1" rel="noopener">Nikola Corp (NKLA US)</a> ex CEO Trevor Milton has <a href="https://www.bloomberg.com/news/articles/2021-08-06/nikola-s-milton-turns-to-lawyers-who-defended-tesla-s-musk?sref=Q1XEaVVD" target="_blank" rel="noopener">hired the s</a><a href="https://www.bloomberg.com/news/articles/2021-08-06/nikola-s-milton-turns-to-lawyers-who-defended-tesla-s-musk?sref=Q1XEaVVD" target="_blank" rel="noopener">ame lawyers</a> who defended <a href="https://www.smartkarma.com/entities/tesla-motors-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla Motors (TSLA US)</a> CEO Elon Musk in his securities fraud conviction in 2018.He might also consider Jay Clayton.Few lawyers have been more helpful to Elon Musk than ex SEC chair Jay Clayton, given his astonishing leniency with Elon over his fake buyout of Tesla which cost investors $20 billion in evaporated market cap.

Bloomberg reported that Nikola Corp (NKLA US) ex CEO Trevor Milton has hired the same lawyers who defended Tesla Motors (TSLA US) CEO Elon Musk in his securities fraud conviction in 2018.He might also consider Jay Clayton.Few lawyers have been more helpful to Elon Musk than ex SEC chair Jay Clayton, given his astonishing leniency with Elon over his fake buyout of Tesla which cost investors $20 billion in evaporated market cap.

Nikola's Milton Just Hired Elon's Lawyers

<a href="https://www.smartkarma.com/entities/tesla-motors-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla Motors (TSLA US)</a> wowed investors last week by beating market estimates with record revenue and it’s first ever legitimate profit generated mostly from its actual operations for the second quarter.Is this sustainable? Unclear. Tesla remained foggy about guidance and CEO Elon Musk warned that the critical chip shortage was a “serious problem” that could impair forward results. Musk also volunteered that Tesla’s pricey FSD option was not a “compelling value” until they “make it work” at some point, so he could justify its current $10,000 price or $199 monthly subscription.In the meantime, however, Tesla’s credit metrics are better than ever now that it’s operations prove they actually can make money.So Tesla may be planning a large bond deal to refinance its expensive 5.3% notes.

Tesla Motors (TSLA US) wowed investors last week by beating market estimates with record revenue and it’s first ever legitimate profit generated mostly from its actual operations for the second quarter.Is this sustainable? Unclear. Tesla remained foggy about guidance and CEO Elon Musk warned that the critical chip shortage was a “serious problem” that could impair forward results. Musk also volunteered that Tesla’s pricey FSD option was not a “compelling value” until they “make it work” at some point, so he could justify its current $10,000 price or $199 monthly subscription.In the meantime, however, Tesla’s credit metrics are better than ever now that it’s operations prove they actually can make money.So Tesla may be planning a large bond deal to refinance its expensive 5.3% notes.

Tesla's Car Business Finally Turned A Profit. Really. Time For A Big Bond Deal

<a href="https://www.smartkarma.com/entities/nikola-corp" target="_blank" data-smartkarma-citation="entities:29029:1" rel="noopener">Nikola Corp (NKLA US)</a> ousted <a href="https://www.bloomberg.com/news/articles/2021-07-29/nikola-founder-charged-for-allegedly-misleading-investors?sref=Q1XEaVVD" target="_blank" rel="noopener">founder/CEO Trevor Milton was charged in federal court today with criminal and civil fraud</a> for lying to investors for years about “nearly every aspect of the business” to juice the stock price.This comes just two weeks after <a href="https://www.smartkarma.com/entities/tesla-motors-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla Motors (TSLA US)</a> CEO Elon Musk defended himself in court over his role in <a href="https://www.bloomberg.com/news/articles/2021-07-13/musk-keeps-temper-in-check-in-tesla-solarcity-trial-testimony?sref=Q1XEaVVD" target="_blank" rel="noopener">pushing Tesla in 2016 to buy SolarCity</a> for an insupportable $2 billion without revealing its near-bankruptcy distress in order to bail out his relatives who ran it. Tesla already paid $60 million last year to settle the case, but Musk, true to form, stubbornly resists any efforts to hold him accountable for just about anything, no matter the harm.It could cost him $2 billion to refund the purchase price for SolarCity if he loses, and the Tesla shareholders suing have a credible case, but Musk is used to getting off without serious consequences.After all, he has defied courts, federal regulators, police, state and local government authorities for years with little more than a slap on the wrist.But this year things have changed, whether Elon Musk realizes it yet or not.

Nikola Corp (NKLA US) ousted founder/CEO Trevor Milton was charged in federal court today with criminal and civil fraud for lying to investors for years about “nearly every aspect of the business” to juice the stock price.This comes just two weeks after Tesla Motors (TSLA US) CEO Elon Musk defended himself in court over his role in pushing Tesla in 2016 to buy SolarCity for an insupportable $2 billion without revealing its near-bankruptcy distress in order to bail out his relatives who ran it. Tesla already paid $60 million last year to settle the case, but Musk, true to form, stubbornly resists any efforts to hold him accountable for just about anything, no matter the harm.It could cost him $2 billion to refund the purchase price for SolarCity if he loses, and the Tesla shareholders suing have a credible case, but Musk is used to getting off without serious consequences.After all, he has defied courts, federal regulators, police, state and local government authorities for years with little more than a slap on the wrist.But this year things have changed, whether Elon Musk realizes it yet or not.

Nikola's Ex CEO Trevor Milton Arrested for Lying to Investors. Some Ask, "What About Elon?"

United States

Tesla Inc. operates as a multinational automotive and clean energy company. The Company designs and manufactures electric vehicles, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services. Tesla owns its sales and service network and sells electric power train components to other automobile manufacturers.

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Tesla (TSLA US)

Tesla Inc - Investment Thesis

Tesla inches closer to the target price from our last report as the company has already achieved a record production and deliveries in the second...

Baptista Research

Tesla China Sales Deflated in July

Local deliveries in China plunged to the lowest since April 2020. Europe looks little better, as I expected. This may be the start of what turns...

Vicki Bryan

Nikola's Milton Just Hired Elon's Lawyers

Nikola's Trevor Milton has hired the same lawyers who defended Elon Musk in his securities fraud conviction in 2018. He might also consider ex SEC...

Vicki Bryan

Tesla's Car Business Finally Turned A Profit. Really. Time For A Big Bond Deal

What's next for Tesla bonds after it finally reports record revenue and (gasp) it's first ever legitimate profit could be big. Really big.

Vicki Bryan

Nikola's Ex CEO Trevor Milton Arrested for Lying to Investors. Some Ask, "What About Elon?"

Many of Milton's lies are very different vs tales Tesla CEO Elon Musk has told investors for years. Others seem troublingly similar. With new...

Vicki Bryan

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