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>Mastercard Inc. presented its fiscal third quarter 2024 results with noteworthy overtures, reflecting robust performance across its various operational spheres.</li><li>CEO Michael Miebach highlighted significant year-over-year growth, with net revenues up 14% and adjusted net income increasing by 13%, all adjusted on a non-GAAP currency-neutral basis.</li><li>This substantial growth was propelled by consistent consumer spending and a noteworthy 17% year-over-year growth in cross-border volume.</li></ul>

Mastercard Inc. presented its fiscal third quarter 2024 results with noteworthy overtures, reflecting robust performance across its various operational spheres.CEO Michael Miebach highlighted significant year-over-year growth, with net revenues up 14% and adjusted net income increasing by 13%, all adjusted on a non-GAAP currency-neutral basis.This substantial growth was propelled by consistent consumer spending and a noteworthy 17% year-over-year growth in cross-border volume.

How Mastercard's Smart Moves in Digital Payments and Travel Are Paying Off Big!

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

<ul><li>Technically, the SET Index is expected to move sideways down, with the support at 1,443/1,432 points and the resistance at 1,454/1,461 points (25/10-day EMA).</li><li>In the medium term, the index remains in a large sideways range of 1,273-1,716 points.</li><li>The short-term trend continues to decline, with the index seeking a major support level, with a pattern of lower highs and lower lows for the eighth consecutive day.</li></ul>

Technically, the SET Index is expected to move sideways down, with the support at 1,443/1,432 points and the resistance at 1,454/1,461 points (25/10-day EMA).In the medium term, the index remains in a large sideways range of 1,273-1,716 points.The short-term trend continues to decline, with the index seeking a major support level, with a pattern of lower highs and lower lows for the eighth consecutive day.

BoJ Meeting; US Earnings From Apple and Amazon

ASEAN Insight Provider, CrossASEAN Research

Angus Mackintosh

ASEAN Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Indosat Ooredoo Hutchison / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/indosat-tbk-pt" target="_blank" data-smartkarma-citation="entities:5737:1" rel="noopener">Indosat (ISAT IJ)</a> remains optimistic about the outlook for its core mobile business as it expands into rural areas and simultaneously increases ARPUs, with the growing use of AI tools. </li>
<li>The company also seeks to become an AI Native Telco whilst also pursuing a separate AI business through its tie-up with <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA</a>, and building a data centre edge through BDx.</li>
<li>
<a href="https://www.smartkarma.com/entities/indosat-tbk-pt" target="_blank" data-smartkarma-citation="entities:5737:1" rel="noopener">Indosat Tbk PT (ISAT IJ)</a> is also optimistic about its home broadband business projecting 2m subscribers by 2028. Valuations remain attractive relative to peers, especially given ISAT's growth outlook. </li>
</ul>



Indosat (ISAT IJ) remains optimistic about the outlook for its core mobile business as it expands into rural areas and simultaneously increases ARPUs, with the growing use of AI tools. 
The company also seeks to become an AI Native Telco whilst also pursuing a separate AI business through its tie-up with NVIDIA, and building a data centre edge through BDx.

Indosat Tbk PT (ISAT IJ) is also optimistic about its home broadband business projecting 2m subscribers by 2028. Valuations remain attractive relative to peers, especially given ISAT's growth outlook. 


Indosat (ISAT IJ) - Streaming Ahead with AI

<ul><li>Mastercard Inc. reported a robust performance in its second quarter of 2024, demonstrating significant resilience and adaptability amid a fluctuating economic landscape.</li><li>The company recorded a 13% increase in net revenues and a substantial 24% growth in adjusted net income on a non-GAAP currency-neutral basis.</li><li>These positive outcomes were primarily fueled by healthy consumer spending which continues to draw strength from a solid labor market and wage growth.</li></ul>

Mastercard Inc. reported a robust performance in its second quarter of 2024, demonstrating significant resilience and adaptability amid a fluctuating economic landscape.The company recorded a 13% increase in net revenues and a substantial 24% growth in adjusted net income on a non-GAAP currency-neutral basis.These positive outcomes were primarily fueled by healthy consumer spending which continues to draw strength from a solid labor market and wage growth.

Mastercard Incorporated: A Tale Of Cross-Border Payment Expansion & New FinTech Partnerships! - Major Drivers

<ul><li>Mastercard Inc.'s Q1 2024 earnings showcased the company's firm position in the payments sector, underpinned by robust revenue and adjusted net income growth on a non-GAAP, currency-neutral basis.</li><li>The company's strong results go beyond the uptake in consumer spending, extending to the rapid growth in cross-border volumes.</li><li>There are several factors at play that make Mastercard attractive from an investment standpoint.</li></ul>

Mastercard Inc.'s Q1 2024 earnings showcased the company's firm position in the payments sector, underpinned by robust revenue and adjusted net income growth on a non-GAAP, currency-neutral basis.The company's strong results go beyond the uptake in consumer spending, extending to the rapid growth in cross-border volumes.There are several factors at play that make Mastercard attractive from an investment standpoint.

Mastercard Incorporated:  Cross-Border Travel and Consumer Behaviors Impact! - Major Drivers

United States

MasterCard, Inc. is a global payment solutions company that provides a variety of services in support of the credit, debit and related payment programs of financial institutions. The Company offers transaction processing services for credit and debit cards, electronic cash, automated teller machines, and travelers checks.

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Mastercard (MA US)

How Mastercard's Smart Moves in Digital Payments and Travel Are Paying Off Big!

Mastercard Inc. presented its fiscal third quarter 2024 results with noteworthy overtures, reflecting robust performance across its various...

Baptista Research

BoJ Meeting; US Earnings From Apple and Amazon

Technically, the SET Index is expected to move sideways down, with the support at 1,443/1,432 points and the resistance at 1,454/1,461 points...

Krungthai XSpring

Indosat (ISAT IJ) - Streaming Ahead with AI

Indosat remains optimistic about the outlook for its core mobile business as it expands into rural areas and simultaneously increases ARPUs, with...

Angus Mackintosh

Mastercard Incorporated: A Tale Of Cross-Border Payment Expansion & New FinTech Partnerships! - Major Drivers

Mastercard Inc. reported a robust performance in its second quarter of 2024, demonstrating significant resilience and adaptability amid a...

Baptista Research

Mastercard Incorporated: Cross-Border Travel and Consumer Behaviors Impact! - Major Drivers

Mastercard Inc.'s Q1 2024 earnings showcased the company's firm position in the payments sector, underpinned by robust revenue and adjusted net...

Baptista Research

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