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>This is our first report on consumer products player, Urban Outfitters, Inc.</li><li>The company's Q3 2024 earnings call demonstrated signs of consistent growth and profitability across most of its brands, although improvements are still needed for the flagship Urban Outfitters brand.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

This is our first report on consumer products player, Urban Outfitters, Inc.The company's Q3 2024 earnings call demonstrated signs of consistent growth and profitability across most of its brands, although improvements are still needed for the flagship Urban Outfitters brand.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Urban Outfitters Inc: Initiation of Coverage - What Is Their Core Business Strategy? - Major Drivers

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>On 3 June 2022, the S&amp;P DJI Global Index team announced changes to the S&amp;P500, S&amp;P Midcap 400, and S&amp;P SmallCap 600 indices (and a number of other smaller indices).</li>
<li>
<a href="https://www.smartkarma.com/entities/vici-properties-inc" target="_blank" data-smartkarma-citation="entities:28786:1" rel="noopener"></a>VICI Properties (VICI) will replace Cerner (CERN) in S&amp;P500 at close of 7 June. Keurig DrPepper and ON Semiconductor will replace UnderArmour and IPG Photonics at close 17 June.</li>
<li>This set of rebalances is particularly interesting in terms of non-offsetting flows, unlike many rebals which are just a game of musical shares between the three top indices.</li>
</ul>


On 3 June 2022, the S&amp;P DJI Global Index team announced changes to the S&amp;P500, S&amp;P Midcap 400, and S&amp;P SmallCap 600 indices (and a number of other smaller indices).

VICI Properties (VICI) will replace Cerner (CERN) in S&amp;P500 at close of 7 June. Keurig DrPepper and ON Semiconductor will replace UnderArmour and IPG Photonics at close 17 June.
This set of rebalances is particularly interesting in terms of non-offsetting flows, unlike many rebals which are just a game of musical shares between the three top indices.


S&P500, S&PMid400, and S&PSmall600 Index Changes for June 2022 - More Interesting Than Usual

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, $3 price target and projections for Vince Holding after visiting the company's store in London and reviewing Vince's wholesale offering with leading department stores.</li><li>We continue to believe Europe, and especially the United Kingdom, remain key growth opportunities for Vince, as their fashion aesthetic and pricing are ideal to capture market share in Europe.</li><li>Further, we believe, even with their limited current reach, Vince is already beginning to cultivate a very loyal local customer base that considers the product part of their overall lifestyle.</li></ul>

We are reiterating our Buy rating, $3 price target and projections for Vince Holding after visiting the company's store in London and reviewing Vince's wholesale offering with leading department stores.We continue to believe Europe, and especially the United Kingdom, remain key growth opportunities for Vince, as their fashion aesthetic and pricing are ideal to capture market share in Europe.Further, we believe, even with their limited current reach, Vince is already beginning to cultivate a very loyal local customer base that considers the product part of their overall lifestyle.

Pvh Corp - VNCE: Snapping the Store - London; Future Remains Bright; Reiterate Buy, $3 PT

<ul><li>We are reiterating our Buy rating, $29 price target and projections after reviewing Guess?</li><li>stores in London.</li><li>As we near the peak Fall season, Guess?</li></ul>

We are reiterating our Buy rating, $29 price target and projections after reviewing Guess?stores in London.As we near the peak Fall season, Guess?

GES: Snapping the Store - London - Fall Elevation Rising; Reiterate Buy, $29 PT

<ul><li>We are reiterating our Buy rating, $3 price target and projections for Vince Holding after visiting stores in Connecticut, Long Island and New Jersey.</li><li>We believe, with Fall now in full swing, Vince is flexing their ability to act strategically both fashion-wise and financially, rolling out impressive looks in sweaters, outerwear, dresses and accessories, expanding men's with new bottoms in multiple colors and silhouettes and layering tops, tees, sweaters and knits.</li><li>Further, the company has been able to drive strong instock levels and expand the colors and products offered to the stores to drive higher overall sales and margins.</li></ul>

We are reiterating our Buy rating, $3 price target and projections for Vince Holding after visiting stores in Connecticut, Long Island and New Jersey.We believe, with Fall now in full swing, Vince is flexing their ability to act strategically both fashion-wise and financially, rolling out impressive looks in sweaters, outerwear, dresses and accessories, expanding men's with new bottoms in multiple colors and silhouettes and layering tops, tees, sweaters and knits.Further, the company has been able to drive strong instock levels and expand the colors and products offered to the stores to drive higher overall sales and margins.

Pvh Corp - VNCE: Snapping the Store: Strategically Focused for Fall; Reiterate Buy, $3 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.

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Urban Outfitters (URBN US)

Urban Outfitters Inc: Initiation of Coverage - What Is Their Core Business Strategy? - Major Drivers

This is our first report on consumer products player, Urban Outfitters, Inc. The company's Q3 2024 earnings call demonstrated signs of consistent...

Baptista Research

S&P500, S&PMid400, and S&PSmall600 Index Changes for June 2022 - More Interesting Than Usual

The June 2022 S&P500, S&P Midcap 400 and S&P SmallCap 600 Rebalance was announced on 3 June 2022. VICI will replace CERN at the close of 7 June,...

Travis Lundy

Pvh Corp - VNCE: Snapping the Store - London; Future Remains Bright; Reiterate Buy, $3 PT

We are reiterating our Buy rating, $3 price target and projections for Vince Holding after visiting the company's store in London and reviewing...

Small Cap Consumer Research

GES: Snapping the Store - London - Fall Elevation Rising; Reiterate Buy, $29 PT

We are reiterating our Buy rating, $29 price target and projections after reviewing Guess? stores in London. As we near the peak Fall season, Guess?

Small Cap Consumer Research

Pvh Corp - VNCE: Snapping the Store: Strategically Focused for Fall; Reiterate Buy, $3 PT

We are reiterating our Buy rating, $3 price target and projections for Vince Holding after visiting stores in Connecticut, Long Island and New...

Small Cap Consumer Research

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