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>Urban Outfitters, Inc. (URBN) delivered an impressive performance in the first quarter of fiscal year 2026, achieving record sales and profits that exceeded expectations.</li><li>Total sales for the quarter increased by 11% compared to the same period last year, reaching $1.3 billion.</li><li>All five of URBN’s brands posted positive sales comps, with four of them producing record first-quarter sales figures.</li></ul>

Urban Outfitters, Inc. (URBN) delivered an impressive performance in the first quarter of fiscal year 2026, achieving record sales and profits that exceeded expectations.Total sales for the quarter increased by 11% compared to the same period last year, reaching $1.3 billion.All five of URBN’s brands posted positive sales comps, with four of them producing record first-quarter sales figures.

Urban Outfitters Outpaces Rivals With Smart Supply Chain Moves & Inventory Mastery!

Equity Research Focusing on the Consumer Sector, Small Cap Consumer Research

Small Cap Consumer Research

Equity Research Focusing on the Consumer Sector

Small Cap Consumer Research, LLC is a leading company-sponsored equity research provider focusing on the consumer sector (apparel, brand licensing and specialty retailing segments).

<ul><li>We are reiterating our Buy rating, $4 price target and projections for Vince Holding with the company announcing 3QFY25 (October) results before the open on Tuesday.</li><li>We believe, with a focus on the higher end consumer, compelling fashion offerings, continued wholesale expansion and the company continuing to work to offset the impact of tariffs, Vince is poised to drive 3Q top line upside, with the potential for better than expected bottom line results (even with tariffs exerting a material negative impact).</li><li> Further, we expect management to remain upbeat on 4Q, with product flows normalizing and the Black Friday sale events inline with prior years.</li></ul>

We are reiterating our Buy rating, $4 price target and projections for Vince Holding with the company announcing 3QFY25 (October) results before the open on Tuesday.We believe, with a focus on the higher end consumer, compelling fashion offerings, continued wholesale expansion and the company continuing to work to offset the impact of tariffs, Vince is poised to drive 3Q top line upside, with the potential for better than expected bottom line results (even with tariffs exerting a material negative impact). Further, we expect management to remain upbeat on 4Q, with product flows normalizing and the Black Friday sale events inline with prior years.

VNCE: 3Q Preview: Showing the Strength of the Model; Reiterate Buy, $4 PT

<ul><li>We are dropping research coverage of GES after the company reported strong 3Q results (handily beating the Street in almost every level) but, more importantly, provided the final pieces to the merger puzzle timing and return.</li><li>With Guess?</li><li>disclosing the November 21st approval of the Merger Agreement at a special shareholder meeting and the issuance of a final $0.225 per GES share dividend to shareholders of record on December 10th, the management buyout with leading brand licensee Authentic Brands Group will provide GES shareholders with a confirmed final payment of $16.975 in cash per GES share ($16.75 for the merger and dividend of $0.225) a slight discount to Tuesday's closing price.</li></ul>

We are dropping research coverage of GES after the company reported strong 3Q results (handily beating the Street in almost every level) but, more importantly, provided the final pieces to the merger puzzle timing and return.With Guess?disclosing the November 21st approval of the Merger Agreement at a special shareholder meeting and the issuance of a final $0.225 per GES share dividend to shareholders of record on December 10th, the management buyout with leading brand licensee Authentic Brands Group will provide GES shareholders with a confirmed final payment of $16.975 in cash per GES share ($16.75 for the merger and dividend of $0.225) a slight discount to Tuesday's closing price.

GES: With Terms Fully Set, Time to Bow Out; Dropping Coverage of GES

<ul><li>We are reiterating our Buy rating, projections and $4 price target for Vince Holding after visiting stores in Connecticut, Long Island and New Jersey.</li><li>With the Black Friday event looming, the stores have been focusing on offering compelling items, from sweaters to outerwear, accessories and event driven looks.</li><li>Further, with the Pre-Spring 1 collection out, the product flows are nearing normal once again.</li></ul>

We are reiterating our Buy rating, projections and $4 price target for Vince Holding after visiting stores in Connecticut, Long Island and New Jersey.With the Black Friday event looming, the stores have been focusing on offering compelling items, from sweaters to outerwear, accessories and event driven looks.Further, with the Pre-Spring 1 collection out, the product flows are nearing normal once again.

VNCE: Snapping the Store: Prepping for Their Holiday Party; Reiterate Buy, PT

aka Brands Holding Corp / Equity Bottom-Up

<ul><li>We are reiterating our Buy rating and $30 price target, but lowering our 2025 and 2026 projections after a.k.a. Brands reported 3Q25 (September) results below even our Street low expectations, as Princess Polly was impacted by shifts in the supply chain due to tariffs, which more than offset material positives from the Australian operations, expansion at Culture Kings and wholesale growth at Petal & Pup.</li><li>That said, the issues at Princess Polly were overwhelmingly driven by supply, not demand, which we believe has remained robust.</li><li>With inventory flows normalizing, management is seeing the return of positive sales at Princess Polly, which should position the company for a robust 2026.</li></ul>

We are reiterating our Buy rating and $30 price target, but lowering our 2025 and 2026 projections after a.k.a. Brands reported 3Q25 (September) results below even our Street low expectations, as Princess Polly was impacted by shifts in the supply chain due to tariffs, which more than offset material positives from the Australian operations, expansion at Culture Kings and wholesale growth at Petal & Pup.That said, the issues at Princess Polly were overwhelmingly driven by supply, not demand, which we believe has remained robust.With inventory flows normalizing, management is seeing the return of positive sales at Princess Polly, which should position the company for a robust 2026.

AKA: 3Q Review: Tariffs Hurt, But Quickly Moving Forward; Reiterate Buy, PT

United States

Urban Outfitters, Inc. operates retail stores and direct response, including a catalog and Web sites.  The Company's Urban Outfitters and Anthropologie retail concepts sell fashion apparel, accessories, and household and gift merchandise. Urban also designs and markets young women's casual wear which it provides to the Company's retail operations and sells to retailers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Urban Outfitters (URBN US)

Urban Outfitters Outpaces Rivals With Smart Supply Chain Moves & Inventory Mastery!

Urban Outfitters, Inc. (URBN) delivered an impressive performance in the first quarter of fiscal year 2026, achieving record sales and profits...

Baptista Research

VNCE: 3Q Preview: Showing the Strength of the Model; Reiterate Buy, $4 PT

We are reiterating our Buy rating, $4 price target and projections for Vince Holding with the company announcing 3QFY25 (October) results before...

Small Cap Consumer Research

GES: With Terms Fully Set, Time to Bow Out; Dropping Coverage of GES

We are dropping research coverage of GES after the company reported strong 3Q results (handily beating the Street in almost every level) but, more...

Small Cap Consumer Research

VNCE: Snapping the Store: Prepping for Their Holiday Party; Reiterate Buy, PT

We are reiterating our Buy rating, projections and $4 price target for Vince Holding after visiting stores in Connecticut, Long Island and New...

Small Cap Consumer Research

AKA: 3Q Review: Tariffs Hurt, But Quickly Moving Forward; Reiterate Buy, PT

We are reiterating our Buy rating and $30 price target, but lowering our 2025 and 2026 projections after a.k.a. Brands reported 3Q25 (September)...

Small Cap Consumer Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)