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

Toyota Motor Corp Spon Adr / Equity Bottom-Up

<ul><li>Toyota Motor Corp surprised investors and industry observers by announcing that CEO Koji Sato will step aside after barely three years in the role, handing leadership to long-time finance chief Kenta Kon at a moment of mounting external and internal pressure.</li><li>The timing is not coincidental.</li><li>Toyota has disclosed that U.S. import tariffs will shave roughly $9 billion from operating profit, a material hit even for the world’s largest automaker by volume.</li></ul>

Toyota Motor Corp surprised investors and industry observers by announcing that CEO Koji Sato will step aside after barely three years in the role, handing leadership to long-time finance chief Kenta Kon at a moment of mounting external and internal pressure.The timing is not coincidental.Toyota has disclosed that U.S. import tariffs will shave roughly $9 billion from operating profit, a material hit even for the world’s largest automaker by volume.

Toyota Replaces Its CEO As $9 Billion Tariff Shock Forces A Reckoning!

Derivatives and Quantitative Strategist

Gaudenz Schneider

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/toyota-motor-corp" target="_blank" data-smartkarma-citation="entities:73:1" rel="noopener">Toyota Motor (7203 JP)</a> reports FY2026 3Q results on 6 Feb 2026; options markets price elevated earnings-day volatility.</li>
<li>
Highlight: Options imply a ±6.1% earnings move vs. historical ±2.4%. Japan-listed options are priced materially richer than US-listed <a href="https://www.smartkarma.com/entities/toyota-motor-corp-spon-adr" target="_blank" data-smartkarma-citation="entities:8245:1" rel="noopener">Toyota Motor ADR (TM US)</a> counterparts.</li>
<li>
Why Read: A concise read-through of Toyota’s earnings-day price history, volatility regime, and options positioning ahead of the announcement.</li>
</ul>



Toyota Motor (7203 JP) reports FY2026 3Q results on 6 Feb 2026; options markets price elevated earnings-day volatility.

Highlight: Options imply a ±6.1% earnings move vs. historical ±2.4%. Japan-listed options are priced materially richer than US-listed Toyota Motor ADR (TM US) counterparts.

Why Read: A concise read-through of Toyota’s earnings-day price history, volatility regime, and options positioning ahead of the announcement.


Toyota Motor (7203 JP // TM US): Options Price a Big Earnings Move on Feb 6

Pan-Asia Tactical Market Calls (Quant-Driven), MRM Research

Nico Rosti

Pan-Asia Tactical Market Calls (Quant-Driven)

MRM Research

Quantitative Research

Equity Derivatives

<ul>
<li>On December 10th we published an <a href="https://www.smartkarma.com/insights/toyota-motor-7203-jp-tactical-outlook-undervalued-and-rising" target="_blank" rel="noopener">insight</a> saying that <a href="https://www.smartkarma.com/entities/toyota-motor-corp" target="_blank" data-smartkarma-citation="entities:73:1" rel="noopener">Toyota Motor (7203 JP)</a> was undervalued. The stock rallied from there. After the recent pullback, it could reach 3653-3897.</li>
<li>Toyota Motor reports earnings results on 6 Feb 2026, read <a href="https://www.smartkarma.com/profiles/gaudenz-schneider" target="_blank" data-smartkarma-citation="accounts:66501" rel="noopener">Gaudenz Schneider</a> recent <a href="https://www.smartkarma.com/insights/toyota-motor-7203-jp-tm-us-options-price-a-big-earnings-move-on-feb-6" target="_blank" rel="noopener">insight</a> for details on the options markets pricing in a big move on earnings-day.</li>
<li>This insight presents the WEEKLY volatility range for the next few weeks, based on our proprietary quant model.</li>
</ul>


On December 10th we published an insight saying that Toyota Motor (7203 JP) was undervalued. The stock rallied from there. After the recent pullback, it could reach 3653-3897.
Toyota Motor reports earnings results on 6 Feb 2026, read Gaudenz Schneider recent insight for details on the options markets pricing in a big move on earnings-day.
This insight presents the WEEKLY volatility range for the next few weeks, based on our proprietary quant model.


Toyota Motor (7203 JP) Tactical Outlook Ahead of Feb 6 Earnings

<ul>
<li>Tactical WEEKLY snapshot of the Pan-Asian indices and stocks we cover, the forecasts are based on our proprietary quantitative models.</li>
<li>Most stocks are overbought or becoming overbought, after the last WEEKLY Close. </li>
<li>Only 3 stocks are oversold: <a href="https://www.smartkarma.com/entities/china-mobile-ltd" target="_blank" data-smartkarma-citation="entities:27:1" rel="noopener">China Mobile (941 HK)</a> , <a href="https://www.smartkarma.com/entities/softbank-group-corp" target="_blank" data-smartkarma-citation="entities:315:1" rel="noopener">Softbank Group (9984 JP)</a> , <a href="https://www.smartkarma.com/entities/hdfc-bank-ltd-4b6b7a92-9087-468d-9dbe-ab169e77f014" target="_blank" data-smartkarma-citation="entities:558:1" rel="noopener">HDFC Bank (HDFCB IN)</a> . Deeper evaluation of these stocks will require dedicated insights.</li>
</ul>


Tactical WEEKLY snapshot of the Pan-Asian indices and stocks we cover, the forecasts are based on our proprietary quantitative models.
Most stocks are overbought or becoming overbought, after the last WEEKLY Close. 
Only 3 stocks are oversold: China Mobile (941 HK) , Softbank Group (9984 JP) , HDFC Bank (HDFCB IN) . Deeper evaluation of these stocks will require dedicated insights.


Pan-Asian Stocks Tactical Outlook (Week Jan 19 – Jan 23)

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

<ul>
<li>In this note, we will take a look at the Asia Pacific IPO pipeline for 2026, having looked at HK and India, we talk about Japan and South Korea pipeline.</li>
<li>This list has been compiled on a best effort basis from tracking the company filings and through various other sources.</li>
<li>The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.</li>
</ul>


In this note, we will take a look at the Asia Pacific IPO pipeline for 2026, having looked at HK and India, we talk about Japan and South Korea pipeline.
This list has been compiled on a best effort basis from tracking the company filings and through various other sources.
The deals you see in this note are only a part of our full IPO pipeline tracker. Feel free to drop us a message for additional information on these IPOs.


Aequitas 2026 Asia IPO Pipeline - Japan & South Korea

Japan

Toyota Motor Corporation manufactures, sells, leases, and repairs passenger cars, trucks, buses, and their related parts worldwide. The Company also operates financing services through their subsidiaries. Toyota Motor builds homes, produces pleasure boats, and develops intelligent transportation systems including radar cruise control and electronic toll collection systems.

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Toyota Motor (7203 JP)

Toyota Replaces Its CEO As $9 Billion Tariff Shock Forces A Reckoning!

Toyota Motor Corp surprised investors and industry observers by announcing that CEO Koji Sato will step aside after barely three years in the...

Baptista Research