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>Valaris kicked off 2024 with a strong first quarter, marked by robust operational performance and significant strides in contract accumulation, propelling their backlog to over $4 billion.</li>
<li>This increase—which reflects a consistent upward trajectory over the previous quarters—underscores the company's ability to attract higher day rate contracts, a cornerstone for future earnings growth.</li>
<li>President and CEO Anton Dibowitz highlighted the absence of lost-time incidents and a high fleet-wide revenue efficiency of 97%, which underscores Valaris's emphasis on safety and operational excellence.</li>
</ul>


Valaris kicked off 2024 with a strong first quarter, marked by robust operational performance and significant strides in contract accumulation, propelling their backlog to over $4 billion.
This increase—which reflects a consistent upward trajectory over the previous quarters—underscores the company's ability to attract higher day rate contracts, a cornerstone for future earnings growth.
President and CEO Anton Dibowitz highlighted the absence of lost-time incidents and a high fleet-wide revenue efficiency of 97%, which underscores Valaris's emphasis on safety and operational excellence.


Valaris Limited: Enhanced Fleet Capabilities and Technological Upgrades! - Major Drivers

<ul>
<li>Valaris plc reported strong financial results for the 4th quarter and offered an optimistic performance outlook, citing their focus on safety, efficient operations, and robust market demand, which is constrained by supply.</li>
<li>CEO Anton Dibowitz highlighted the significant new contract backlog worth around $3 billion achieved during 2023, nearly 60% higher compared to a year ago.</li>
<li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li>
</ul>


Valaris plc reported strong financial results for the 4th quarter and offered an optimistic performance outlook, citing their focus on safety, efficient operations, and robust market demand, which is constrained by supply.
CEO Anton Dibowitz highlighted the significant new contract backlog worth around $3 billion achieved during 2023, nearly 60% higher compared to a year ago.
Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.


Valaris Ltd:Expanding Contract Coverage & 3 Other Factors Influencing Our 'Buy' Rating

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

<ul>
<li>An overlooked old economy sector in Asia ripe for a comeback</li>
<li>Industry dynamics will provide  a long-term tailwind for the company</li>
<li>Opportunity created by  deletion from an index and corporate restructuring</li>
</ul>


An overlooked old economy sector in Asia ripe for a comeback
Industry dynamics will provide  a long-term tailwind for the company
Opportunity created by  deletion from an index and corporate restructuring


China Oilfield Services H / Equity Bottom-Up

<ul>
<li>The largest player in Asia in the offshore oil services sector with limited competition</li>
<li>Business dynamics trending up as offshore exploration is the focus of many energy majors</li>
<li>Recent sell-off due to concerns over Aramco drilling delays provide a good entry point</li>
</ul>


The largest player in Asia in the offshore oil services sector with limited competition
Business dynamics trending up as offshore exploration is the focus of many energy majors
Recent sell-off due to concerns over Aramco drilling delays provide a good entry point


China Oilfield Services 2883.HK - Capitalising on the Boom in Offshore Exploration

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>WTR-CMI last week. In what was a mixed week for the market, with the Russell 2000 appreciating 0.6% and the S&amp;P 500 remaining virtually unchanged at (0.1%), our WTR-CMI index of 30 chemicals and materials technology stocks underperformed, declining 0.3%, as lithium stocks led by ALB suffered from Chile’s decision to nationalize its lithium mining industry, once existing contracts with private companies (mainly SQM and ALB) expire.</li><li>SHW exits another paint market. When the company acquired Valspar, it did not only shore up its presence in the North American big-box distribution channel and expand its industrial coatings business, but it also gained exposure to non-North American paint markets, specifically China and Australia.</li><li>SHW divested the Australian business<span style="font-size: var(--content-font-size);"> two years ago and now has also found a buyer (Akzo) for its </span>Chinese paint business<span style="font-size: var(--content-font-size);">, which may have contributed to SHW topping the list of WTR-CMI stocks appreciating last week.</span></li></ul>

WTR-CMI last week. In what was a mixed week for the market, with the Russell 2000 appreciating 0.6% and the S&amp;P 500 remaining virtually unchanged at (0.1%), our WTR-CMI index of 30 chemicals and materials technology stocks underperformed, declining 0.3%, as lithium stocks led by ALB suffered from Chile’s decision to nationalize its lithium mining industry, once existing contracts with private companies (mainly SQM and ALB) expire.SHW exits another paint market. When the company acquired Valspar, it did not only shore up its presence in the North American big-box distribution channel and expand its industrial coatings business, but it also gained exposure to non-North American paint markets, specifically China and Australia.SHW divested the Australian business two years ago and now has also found a buyer (Akzo) for its Chinese paint business, which may have contributed to SHW topping the list of WTR-CMI stocks appreciating last week.

Mat-Chem Notes : For the Week Ended April 21, 2023

United States

Valaris Limited provides offshore contract drilling services. The Company owns, operates, and manages rig fleets and provides drilling services. Valaris serves customers worldwide.

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Valaris (VAL US)

Valaris Limited: Enhanced Fleet Capabilities and Technological Upgrades! - Major Drivers

Valaris kicked off 2024 with a strong first quarter, marked by robust operational performance and significant strides in contract accumulation,...

Baptista Research

Valaris Ltd:Expanding Contract Coverage & 3 Other Factors Influencing Our 'Buy' Rating

Valaris plc reported strong financial results for the 4th quarter and offered an optimistic performance outlook, citing their focus on safety,...

Baptista Research

Seatrium – Offshore Ahoy!

An old economy sector poised for a comeback with long-term growth potential due to industry dynamics. Index deletion and corporate restructuring...

Rikki Malik

China Oilfield Services 2883.HK - Capitalising on the Boom in Offshore Exploration

Asia's top offshore oil services player poised for growth with increased focus on offshore exploration and limited competition in vessel supply.

Rikki Malik

Mat-Chem Notes : For the Week Ended April 21, 2023

In what was a mixed week for the market, with the Russell 2000 appreciating 0.6% and the S&P 500 remaining virtually unchanged at (0.1%)

Water Tower Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Valaris Limited: Enhanced Fleet Capabilities and Technological Upgrades! - Major Drivers

Valaris kicked off 2024 with a strong first quarter, marked by robust operational performance and significant strides in contract accumulation,...

Baptista Research

Valaris Ltd:Expanding Contract Coverage & 3 Other Factors Influencing Our 'Buy' Rating

Valaris plc reported strong financial results for the 4th quarter and offered an optimistic performance outlook, citing their focus on safety,...

Baptista Research

Seatrium – Offshore Ahoy!

An old economy sector poised for a comeback with long-term growth potential due to industry dynamics. Index deletion and corporate restructuring...

Rikki Malik

China Oilfield Services 2883.HK - Capitalising on the Boom in Offshore Exploration

​Asia's top offshore oil services player poised for growth with increased focus on offshore exploration and limited competition in vessel supply.

Rikki Malik

Mat-Chem Notes : For the Week Ended April 21, 2023

In what was a mixed week for the market, with the Russell 2000 appreciating 0.6% and the S&P 500 remaining virtually unchanged at (0.1%)

Water Tower Research

Asia's top offshore oil services player poised for growth with increased focus on offshore exploration and limited competition in vessel supply.