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>United Rentals' (URI) latest earnings depicted strong Q1 results with total revenue increasing by 6% YoY to reach $3.5 billion, a new first quarter record, along with rental revenue growing 7% and fleet productivity increasing by a promising 4%.</li><li>Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) grew to a first quarter record of $1.6 billion, culminating in a margin of 45.5%.</li><li>Furthermore, adjusted Earnings per Share (EPS) appreciated by 15% to reach $9.15.</li></ul>

United Rentals' (URI) latest earnings depicted strong Q1 results with total revenue increasing by 6% YoY to reach $3.5 billion, a new first quarter record, along with rental revenue growing 7% and fleet productivity increasing by a promising 4%.Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) grew to a first quarter record of $1.6 billion, culminating in a margin of 45.5%.Furthermore, adjusted Earnings per Share (EPS) appreciated by 15% to reach $9.15.

United Rentals: Is Their Solid M&A Strategy Paying Off? - Major Drivers

<ul><li>The latest earnings from United Rentals highlight several points of growing interest for potential investors.</li><li>The company achieved record-breaking results for the fourth quarter of the year, as noted by President and CEO Matt Flannery, through the continuation of a customer-centric approach to operational excellence and safety.</li><li>The company's achievements are marked by record revenue, earnings, and returns, underpinned by a strategic acquisition and the focus on integration.</li></ul>

The latest earnings from United Rentals highlight several points of growing interest for potential investors.The company achieved record-breaking results for the fourth quarter of the year, as noted by President and CEO Matt Flannery, through the continuation of a customer-centric approach to operational excellence and safety.The company's achievements are marked by record revenue, earnings, and returns, underpinned by a strategic acquisition and the focus on integration.

United Rentals Inc: Increased Used Equipment Sales & Other Major Drivers

<ul><li>United Rentals, Inc. delivered an all-around beat in the most recent quarterly result, witnessing a substantial 23% year-over-year surge in total revenue, reaching an unprecedented $3.8 billion.</li><li>The company's Adjusted EBITDA soared by 22%, achieving a third-quarter high of $1.85 billion, resulting in a margin exceeding 49%.</li><li>The strategic addition of personnel is highlighted as a key factor in successfully assimilating companies into United Rentals.</li></ul>

United Rentals, Inc. delivered an all-around beat in the most recent quarterly result, witnessing a substantial 23% year-over-year surge in total revenue, reaching an unprecedented $3.8 billion.The company's Adjusted EBITDA soared by 22%, achieving a third-quarter high of $1.85 billion, resulting in a margin exceeding 49%.The strategic addition of personnel is highlighted as a key factor in successfully assimilating companies into United Rentals.

United Rentals Inc.: Here Are The 3 Biggest Risks The Company Faces! - Major Drivers

Value Investing

Vladimir Dimitrov, CFA

<ul><li>United Rentals continues to perform well as the risk of a recession grows.</li><li>The share price is not expensive as profitability and utilization rates remain strong.</li><li>United Renters remains a sold long-term opportunity, but near-term risks should not be ignored, but United Rental remains a selling long- term opportunity.</li></ul>

United Rentals continues to perform well as the risk of a recession grows.The share price is not expensive as profitability and utilization rates remain strong.United Renters remains a sold long-term opportunity, but near-term risks should not be ignored, but United Rental remains a selling long- term opportunity.

United Rentals: Be Mindful Of Short-Term Risks, But Don't Lose The Long-Term Focus

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

US Treasury (10 Yr Generic) / Technical Analysis

<ul>
<li>Our bullish outlook initiated on November 7, 2023 remains intact; this intermediate-to-long-term outlook is likely to stay in place as long as 4800 support holds on the SPX (7-10% downside).</li>
<li>To be clear, we aren't calling for a pullback to 4800; we view it as a worst-case scenario for the S&amp;P 500, and we want to be prepared for anything.</li>
<li>Shorter-Term, we remain bullish on the S&amp;P 500 and Nasdaq 100 (QQQ) as they both refuse to close below their 20-day MAs for more than 2-3 consecutive days.</li>
</ul>


Our bullish outlook initiated on November 7, 2023 remains intact; this intermediate-to-long-term outlook is likely to stay in place as long as 4800 support holds on the SPX (7-10% downside).
To be clear, we aren't calling for a pullback to 4800; we view it as a worst-case scenario for the S&amp;P 500, and we want to be prepared for anything.
Shorter-Term, we remain bullish on the S&amp;P 500 and Nasdaq 100 (QQQ) as they both refuse to close below their 20-day MAs for more than 2-3 consecutive days.


Downgrading Real Estate to Underweight; Bullish Outlook Intact; Broadening Participation

United States

United Rentals, Inc., through its subsidiary, is an equipment rental company operating a network of locations in the United States and Canada.  The Company serves the construction industry, industrial and commercial concerns, homeowners, and other individuals.

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United Rentals (URI US)

United Rentals: Is Their Solid M&A Strategy Paying Off? - Major Drivers

United Rentals' (URI) latest earnings depicted strong Q1 results with total revenue increasing by 6% YoY to reach $3.5 billion, a new first...

Baptista Research

United Rentals Inc: Increased Used Equipment Sales & Other Major Drivers

The latest earnings from United Rentals highlight several points of growing interest for potential investors. The company achieved record-breaking...

Baptista Research

United Rentals Inc.: Here Are The 3 Biggest Risks The Company Faces! - Major Drivers

United Rentals, Inc. delivered an all-around beat in the most recent quarterly result, witnessing a substantial 23% year-over-year surge in total...

Baptista Research

United Rentals: Be Mindful Of Short-Term Risks, But Don't Lose The Long-Term Focus

United Rentals continues to perform well as the risk of a recession grows. The share price is not expensive as profitability and utilization rates...

Vladimir Dimitrov, CFA

Downgrading Real Estate to Underweight; Bullish Outlook Intact; Broadening Participation

Downgrading Real Estate to Underweight; Bullish Outlook Intact on $SPX $QQQ $NDX $IWM $RTY $IJH $MDY $VXF; Broadening Participation (NYSE Net New...

Vermilion Research

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