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>Tesla's third-quarter 2024 report has left investors with more questions than answers.</li><li>The company delivered 462,890 vehicles, narrowly missing analysts' estimates and triggering a 2% decline in premarket trading.</li><li>While Tesla remains a dominant force in the electric vehicle (EV) industry, it faces mounting challenges, including increased competition, leadership shakeups, and frequent product recalls.</li></ul>

Tesla's third-quarter 2024 report has left investors with more questions than answers.The company delivered 462,890 vehicles, narrowly missing analysts' estimates and triggering a 2% decline in premarket trading.While Tesla remains a dominant force in the electric vehicle (EV) industry, it faces mounting challenges, including increased competition, leadership shakeups, and frequent product recalls.

Tesla's Q3 Delivery Report, Leadership Shakeup & Cybertruck Recalls: Should Investors Be Worried?

AI and Global Deep Tech, Mint Finance

Uttkarsh Kohli

AI and Global Deep Tech

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>Tesla aims for 462,000 deliveries in Q3 2024, with analysts predicting actual numbers could reach 470,000 units. This increase highlights strong demand, particularly in China.</li>
<li>Vehicle registrations in China rose nearly 20% QoQ, driven by the Model Y's popularity. Despite expiring subsidies, Tesla expects Q3 deliveries to exceed its previous best quarter by 5%.</li>
<li>Tesla's stock is up only 4.85% year-to-date, significantly lagging the S&amp;P 500’s 21% rise. Factors include declining EV demand, price cuts affecting margins, and increased competition.</li>
</ul>


Tesla aims for 462,000 deliveries in Q3 2024, with analysts predicting actual numbers could reach 470,000 units. This increase highlights strong demand, particularly in China.
Vehicle registrations in China rose nearly 20% QoQ, driven by the Model Y's popularity. Despite expiring subsidies, Tesla expects Q3 deliveries to exceed its previous best quarter by 5%.
Tesla's stock is up only 4.85% year-to-date, significantly lagging the S&amp;P 500’s 21% rise. Factors include declining EV demand, price cuts affecting margins, and increased competition.


Tesla's Q3 2024 Earnings: Production Surge, China Growth, and FSD Innovations Await

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

<ul>
<li>Temu as a subsidiary of PDD becomes the second largest global e-commerce website.</li>
<li>Meituan merges departments into fewer business units to cut expenses further.</li>
<li>Mercedes-Benz left the joint venture with BYD, as its high end products are not as popular as Tesla models.</li>
</ul>


Temu as a subsidiary of PDD becomes the second largest global e-commerce website.
Meituan merges departments into fewer business units to cut expenses further.
Mercedes-Benz left the joint venture with BYD, as its high end products are not as popular as Tesla models.


China Consumption Weekly (30 Sep 2024): PDD, Meituan, BYD, Benz, Miniso, Yonghui

<ul>
<li>Tesla projects Q3 2024 EV sales of 460,000–470,000, reflecting 8% YoY growth, driven by high demand in China and robust Gigafactory operations. </li>
<li>The October 10 Robotaxi event will spotlight Tesla’s Full Self Driving tech, attracting intense investor interest in autonomous transportation’s future prospects. Investors eye a new cheaper Tesla model release.</li>
<li>Waymo leads the U.S. market, with 100,000+ weekly paid robotaxi trips, intensifying pressure on Tesla to match or surpass this scale in its robotaxi rollout. </li>
</ul>


Tesla projects Q3 2024 EV sales of 460,000–470,000, reflecting 8% YoY growth, driven by high demand in China and robust Gigafactory operations. 
The October 10 Robotaxi event will spotlight Tesla’s Full Self Driving tech, attracting intense investor interest in autonomous transportation’s future prospects. Investors eye a new cheaper Tesla model release.
Waymo leads the U.S. market, with 100,000+ weekly paid robotaxi trips, intensifying pressure on Tesla to match or surpass this scale in its robotaxi rollout. 


Tesla Gears Up for Game-Changing Robotaxi Event Amid EV Sales Surge

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

Hozon New Energy Automobile Co Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hozon-new-energy-automobile-co-ltd" target="_blank" data-smartkarma-citation="entities:43704:1" rel="noopener">Hozon New Energy Automobile</a> is looking to raise up to US$1bn in its upcoming HK IPO.</li>
<li>Hozon New Energy Automobile (HNEA) is a NEV technology company which sells cars under the Neta brand. The prices of its vehicles generally range between US$15,000 to US$45,000.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



Hozon New Energy Automobile is looking to raise up to US$1bn in its upcoming HK IPO.
Hozon New Energy Automobile (HNEA) is a NEV technology company which sells cars under the Neta brand. The prices of its vehicles generally range between US$15,000 to US$45,000.
In this note, we talk about the not-so-positive aspects of the deal.


Hozon New Energy Automobile Pre-IPO - The Negatives - Remains Far from Being Profitable

United States

Tesla Inc. operates as a multinational automotive and clean energy company. The Company designs and manufactures electric vehicles, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services. Tesla owns its sales and service network and sells electric power train components to other automobile manufacturers.

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Tesla (TSLA US)

Tesla's Q3 Delivery Report, Leadership Shakeup & Cybertruck Recalls: Should Investors Be Worried?

Tesla's third-quarter 2024 report has left investors with more questions than answers. The company delivered 462,890 vehicles, narrowly missing...

Baptista Research

Tesla's Q3 2024 Earnings: Production Surge, China Growth, and FSD Innovations Await

As Tesla prepares for its Q3 2024 earnings report, investors focus on production forecasts, expansion in China, advances in FSD technology, and the...

Mint Finance

China Consumption Weekly (30 Sep 2024): PDD, Meituan, BYD, Benz, Miniso, Yonghui

Temu becomes the second largest global e-commerce website. Meituan merges departments to cut expenses. Mercedes-Benz left the joint venture with...

Ming Lu

Tesla Gears Up for Game-Changing Robotaxi Event Amid EV Sales Surge

Tesla hopes to reshape the autonomous vehicle landscape in the 10/10 Robotaxi event, building on its EV success. Strong Q3 24 sales projections...

Mint Finance

Hozon New Energy Automobile Pre-IPO - The Negatives - Remains Far from Being Profitable

Hozon New Energy Automobile is looking to raise up to US$1bn in its upcoming HK IPO. In this note, we talk about the not-so-positive aspects of the...

Sumeet Singh

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