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.

Credit

<ul><li>Williams reported a solid quarter and managed an all-around beat driven by strong performance across its core businesses and JV upstream operations.</li><li>Although operating and maintenance expenditures increased, primarily due to more frequent maintenance tasks, the company is still on track to meet its goals.</li><li>This is an important step towards expanding the company's core regulated utility business.</li></ul>

Williams reported a solid quarter and managed an all-around beat driven by strong performance across its core businesses and JV upstream operations.Although operating and maintenance expenditures increased, primarily due to more frequent maintenance tasks, the company is still on track to meet its goals.This is an important step towards expanding the company's core regulated utility business.

The Williams Companies Inc.: Major Drivers

<ul><li>The Williams Companies delivered a solid result in the second quarter surpassing Wall Street expectations on all counts.</li><li>With 14% growth, the second quarter continued the year's promising start, reflecting both the success of the company's core business and the potential gains from its upstream joint ventures.</li><li>Increased maintenance work during the current year's second quarter contributed to greater operating and maintenance expenditures.</li></ul>

The Williams Companies delivered a solid result in the second quarter surpassing Wall Street expectations on all counts.With 14% growth, the second quarter continued the year's promising start, reflecting both the success of the company's core business and the potential gains from its upstream joint ventures.Increased maintenance work during the current year's second quarter contributed to greater operating and maintenance expenditures.

The Williams Companies Inc: The NorTex Midstream Acquisition & Other Drivers

<ul><li>The Williams Compaanies is one of the largest pipeline operators in the U.S.</li><li>The company got off to a good start in 2022 on the financial front.</li><li>In short, they have built a steady and predictable business with ongoing growth, improving returns, and free cash, as a result of their intense focus on their natural gas-focused strategy.</li></ul>

The Williams Compaanies is one of the largest pipeline operators in the U.S.The company got off to a good start in 2022 on the financial front.In short, they have built a steady and predictable business with ongoing growth, improving returns, and free cash, as a result of their intense focus on their natural gas-focused strategy.

The Williams Companies Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

<ul><li>This is our first report on midstream player, Williams which has a vast asset base in terms of pipelines.</li><li>In short, they have built a steady and predictable business with ongoing growth, improving returns, and free cash, as a result of their intense focus on their natural gas-focused strategy.</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 midstream player, Williams which has a vast asset base in terms of pipelines.In short, they have built a steady and predictable business with ongoing growth, improving returns, and free cash, as a result of their intense focus on their natural gas-focused strategy.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

The Williams Companies Inc.: Initiation of Coverage – Business Strategy

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

MSCI Emerging Markets Index / Technical Analysis

Big-picture technicals offer a compelling outlook for equities -- in the long-run. Despite arguably stretched trends, especially in the U.S. and EM, one indicator in particular keeps us optimistic: monthly charts.  What is clear right now is: (1) Europe is on the doorstep of breaking above secular resistance; (2) Japan is breaking out above secular resistance; (3) and EM already has. Speaking of EM, we view this as the place to be, or overweight, in 2018. The EM/EAFE’s 20-year chart (below) reveals an in-progress trend reversal (which developed at a secular trendline) in favor of EM.In today’s report we review every global sector, highlighting actionable stocks within each.

Big-picture technicals offer a compelling outlook for equities -- in the long-run. Despite arguably stretched trends, especially in the U.S. and EM, one indicator in particular keeps us optimistic: monthly charts.  What is clear right now is: (1) Europe is on the doorstep of breaking above secular resistance; (2) Japan is breaking out above secular resistance; (3) and EM already has. Speaking of EM, we view this as the place to be, or overweight, in 2018. The EM/EAFE’s 20-year chart (below) reveals an in-progress trend reversal (which developed at a secular trendline) in favor of EM.In today’s report we review every global sector, highlighting actionable stocks within each.

United States

The Williams Companies, Inc. is an energy infrastructure company focused on connecting North America's hydrocarbon resource plays to growing markets for natural gas, natural gas liquids (NGLs) and olefins. The Company owns and operates midstream gathering and processing assets, and interstate natural gas pipelines.

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Williams Cos (WMB US)

The Williams Companies Inc.: Major Drivers

Williams reported a solid quarter and managed an all-around beat driven by strong performance across its core businesses and JV upstream...

Baptista Research

The Williams Companies Inc: The NorTex Midstream Acquisition & Other Drivers

The Williams Companies delivered a solid result in the second quarter surpassing Wall Street expectations on all counts. With 14% growth, the...

Baptista Research

The Williams Companies Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

The Williams Compaanies is one of the largest pipeline operators in the U.S. The company got off to a good start in 2022 on the financial...

Baptista Research

The Williams Companies Inc.: Initiation of Coverage – Business Strategy

This is our first report on midstream player, Williams which has a vast asset base in terms of pipelines. In short, they have built a steady and...

Baptista Research

Global Equity Strategy: Overweight EM

Big-picture technicals offer a compelling outlook for equities -- in the long-run. Despite arguably stretched trends, especially in the U.S. and...

Vermilion Research

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