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>Waste Connections, Inc. reported a strong start to 2024, delivering better-than-expected operating and financial results, including adjusted EBITDA margin expansion of 160 basis points to 31.4% in Q1.</li><li>The company's earnings exceeded projections due to improvements in employee retention and safety trends, along with rising commodity values.</li><li>Waste Connections management highlighted several notable trends impacting its business, including continued improvement in employee turnover rates and safety incidents, suggesting an effective culture of accountability within the company.</li></ul>

Waste Connections, Inc. reported a strong start to 2024, delivering better-than-expected operating and financial results, including adjusted EBITDA margin expansion of 160 basis points to 31.4% in Q1.The company's earnings exceeded projections due to improvements in employee retention and safety trends, along with rising commodity values.Waste Connections management highlighted several notable trends impacting its business, including continued improvement in employee turnover rates and safety incidents, suggesting an effective culture of accountability within the company.

Waste Connections Inc.: Initiation of Coverage - 4 Pivotal Factors Driving Its Performance In 2024 & Beyond! - Major Drivers

Hilton Worldwide Holdings  / Equity Bottom-Up

<ul>
<li>Hilton has reported its first-quarter results for 2024, which the company states have continued to demonstrate the strength of Hilton’s business along with its development story.</li>
<li>Although the company’s RevPAR growth found itself at the lower end of its guidance, both adjusted EBITDA and adjusted EPS exceeded predictions significantly.</li>
<li>Some of Hilton’s newly announced partnerships and portfolio additions have solidified its confidence in future growth.</li>
</ul>


Hilton has reported its first-quarter results for 2024, which the company states have continued to demonstrate the strength of Hilton’s business along with its development story.
Although the company’s RevPAR growth found itself at the lower end of its guidance, both adjusted EBITDA and adjusted EPS exceeded predictions significantly.
Some of Hilton’s newly announced partnerships and portfolio additions have solidified its confidence in future growth.


Hilton Worldwide Holdings: Resilient Demand In Key Regions Driving Growth! - Major Drivers

Research Coverage on Small and Micro-Cap Companies, Zacks Small Cap Research

Zacks Small Cap Research

Research Coverage on Small and Micro-Cap Companies

Zacks Small Cap Research provides research coverage on small- and micro-cap companies that are “under-followed” or “under-valued” by Wall Street. We produce high quality equity research for the institutional and retail investor on microcap firms we believe are well positioned for future growth. The Zacks SCR analyst team has an average of 20 years of experience in investment research. We conduct significant due diligence in an effort to maintain the highest quality small-cap universe.

<ul>
<li>MiMedx is a wound care and therapeutic biologics company, developing and distributing allografts.</li>
<li>The company derives its products from human placental tissues processed using the Purion technology.</li>
<li>MiMedx differentiates itself in the regenerative medicine market through the substantial library of supportive research for its products.</li>
</ul>


MiMedx is a wound care and therapeutic biologics company, developing and distributing allografts.
The company derives its products from human placental tissues processed using the Purion technology.
MiMedx differentiates itself in the regenerative medicine market through the substantial library of supportive research for its products.


<ul>
<li>We are initiating coverage of Webuy Global (WBUY) with a $0.85 target valuation.</li>
<li>Webuy Global is a community-based buying group platform that sells groceries, fresh produce, and packaged travel tours through its app in Indonesia and Singapore.</li>
<li>The company is attempting to leverage its customer relationships to expand into additional markets where group buying has shown promise, like insurance.</li>
</ul>


We are initiating coverage of Webuy Global (WBUY) with a $0.85 target valuation.
Webuy Global is a community-based buying group platform that sells groceries, fresh produce, and packaged travel tours through its app in Indonesia and Singapore.
The company is attempting to leverage its customer relationships to expand into additional markets where group buying has shown promise, like insurance.


WBUY: Initiating coverage of a Southeast Asian community-based buying group

Interpublic Group Of Companies / Equity Bottom-Up

<ul><li>Interpublic Group (IPG) announced its Q1 2024 earnings, showing a solid start to the year with performance consistent with growth and margin targets shared earlier in 2024.</li><li>The company's revenue before billable expenses increased organically by 1.3%, driven by strong growth in Europe, followed by LatAm and the U.S. The growth was solid at IPG Mediabrands, and the company had growth sectors worldwide led by double-digit increases among healthcare and food and beverage clients.</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>

Interpublic Group (IPG) announced its Q1 2024 earnings, showing a solid start to the year with performance consistent with growth and margin targets shared earlier in 2024.The company's revenue before billable expenses increased organically by 1.3%, driven by strong growth in Europe, followed by LatAm and the U.S. The growth was solid at IPG Mediabrands, and the company had growth sectors worldwide led by double-digit increases among healthcare and food and beverage clients.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.

The Interpublic Group of Companies: Adoption & Integration of AI Propelling Them Ahead Of Competition? - Major Drivers