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

Abercrombie & Fitch Co Cl A / Equity Bottom-Up

<ul><li>Abercrombie & Fitch reported a record-setting performance for the fourth quarter and the entire fiscal year 2025, achieving substantial sales and maintaining double-digit operating margins.</li><li>The company reported fourth quarter net sales of $1.67 billion, a year-over-year increase of 5%.</li><li>Both Abercrombie and Hollister brands hit record sales figures, illustrating balanced growth across geographic regions and sales channels.</li></ul>

Abercrombie & Fitch reported a record-setting performance for the fourth quarter and the entire fiscal year 2025, achieving substantial sales and maintaining double-digit operating margins.The company reported fourth quarter net sales of $1.67 billion, a year-over-year increase of 5%.Both Abercrombie and Hollister brands hit record sales figures, illustrating balanced growth across geographic regions and sales channels.

Abercrombie & Fitch's $5.3 Billion Sales Milestone Signals A New Scale Reality

<ul><li>Abercrombie & Fitch shares cratered nearly 20% after the company modestly narrowed its fourth-quarter guidance—despite what appeared to be continued operational strength.</li><li>The retailer, which had become a Wall Street darling after delivering a record fiscal 2024 and three strong quarters in fiscal 2025, forecasted fourth-quarter net sales growth of 4% to 6% and EPS of $3.40 to $3.70.</li><li>While this was only a tightening from a prior 4% to 6% sales growth range and $3.40 to $3.70 EPS range, the absence of upside left investors disappointed.</li></ul>

Abercrombie & Fitch shares cratered nearly 20% after the company modestly narrowed its fourth-quarter guidance—despite what appeared to be continued operational strength.The retailer, which had become a Wall Street darling after delivering a record fiscal 2024 and three strong quarters in fiscal 2025, forecasted fourth-quarter net sales growth of 4% to 6% and EPS of $3.40 to $3.70.While this was only a tightening from a prior 4% to 6% sales growth range and $3.40 to $3.70 EPS range, the absence of upside left investors disappointed.

Abercrombie & Fitch Tumbled 20% on “Good” News — What Went Wrong?

<ul><li>Abercrombie & Fitch reported its twelfth consecutive quarter of growth, achieving record net sales of $1.3 billion, an increase of 7% from the previous year.</li><li>This growth showcased a balanced performance across regions, with notable success in the Americas and EMEA, despite challenges in the APAC region where sales declined 6%.</li><li>The company also managed to increase its gross margin to 62.5% amidst a 210 basis point adverse impact due to tariffs.</li></ul>

Abercrombie & Fitch reported its twelfth consecutive quarter of growth, achieving record net sales of $1.3 billion, an increase of 7% from the previous year.This growth showcased a balanced performance across regions, with notable success in the Americas and EMEA, despite challenges in the APAC region where sales declined 6%.The company also managed to increase its gross margin to 62.5% amidst a 210 basis point adverse impact due to tariffs.

Abercrombie & Fitch Co.’s Global Push—Can EMEA & APAC Become the Next Growth Engines?

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

<ul>
<li>Our outlook remains bullish and the significant end-of-year rally that we have been expecting since mid-October is in progress.</li>
<li>There is little to do besides continue to ride the trend higher following our 11/5/24 and 11/19/24 Compass reports which both had "Buy the Pullback" in the title</li>
<li>We also continue to expect to see support at the 20-day MAs on the Russell 2000 (IWM), S&amp;P 500, and Nasdaq 100 (QQQ)</li>
</ul>


Our outlook remains bullish and the significant end-of-year rally that we have been expecting since mid-October is in progress.
There is little to do besides continue to ride the trend higher following our 11/5/24 and 11/19/24 Compass reports which both had "Buy the Pullback" in the title
We also continue to expect to see support at the 20-day MAs on the Russell 2000 (IWM), S&amp;P 500, and Nasdaq 100 (QQQ)


Improving Market Dynamics; Outlook Remains Bullish; MSCI EAFE, ACWI Ex-US, Europe to Join the Party?

Cross-Asset Strategist & Quantitative Analyst, Pennock Idea Hub

Cam Hui

Cross-Asset Strategist & Quantitative Analyst

Pennock Idea Hub

We are creators of independent equity research. The Pennock Idea Hub team are veterans of the investment industry. Much of our team has spent their careers at Merrill Lynch, Deutsche Bank, RBC Capital Markets and Wood Gundy. We have taken every aspect of research back to the studs and returned to first principles. The Pennock Idea Hub marries the interests of the sell and buy side. 

We offer the best research for institutional investors by:

-Only publishing research from veteran analysts
-Eliminate the inherent conflicts of the traditional sell and buy side relationship
-Ensure our team is always accessible; collaboration with clients nurtures our collective success

Cross-Asset & Quantitative Research

Cross Asset Strategy

<ul>
<li>A bottom-up driven scan of stock charts shows over 29 stocks with bullish technical patterns consisting of uptrends or breakouts from multi-month bases with strong potential upsides.</li>
<li>Bullish patterns are broadly based, primarily concentrated in technology and cyclicals, which argue for a continuation of the AI-related bull and an economic rebound.</li>
<li>This bottom-up analysis also pointed to bullish macro conclusions about the economy.</li>
</ul>


A bottom-up driven scan of stock charts shows over 29 stocks with bullish technical patterns consisting of uptrends or breakouts from multi-month bases with strong potential upsides.
Bullish patterns are broadly based, primarily concentrated in technology and cyclicals, which argue for a continuation of the AI-related bull and an economic rebound.
This bottom-up analysis also pointed to bullish macro conclusions about the economy.


United States

Abercrombie & Fitch Co.  a specialty retailer that operates stores and direct-to-consumer operations. Through these channels, the Company sells: casual sportswear apparel, including knit and woven shirts, graphic t-shirts, fleece, jeans and woven pants, shorts, sweaters, and outerwear; personal care products; and accessories for men, women and kids.

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Abercrombie & Fitch Co Cl A (ANF US)

Abercrombie & Fitch's $5.3 Billion Sales Milestone Signals A New Scale Reality

Abercrombie & Fitch reported a record-setting performance for the fourth quarter and the entire fiscal year 2025, achieving substantial sales...

Baptista Research

Abercrombie & Fitch Tumbled 20% on “Good” News — What Went Wrong?

Abercrombie & Fitch shares cratered nearly 20% after the company modestly narrowed its fourth-quarter guidance—despite what appeared to be...

Baptista Research

Abercrombie & Fitch Co.’s Global Push—Can EMEA & APAC Become the Next Growth Engines?

Abercrombie & Fitch reported its twelfth consecutive quarter of growth, achieving record net sales of $1.3 billion, an increase of 7% from the...

Baptista Research

Improving Market Dynamics; Outlook Remains Bullish; MSCI EAFE, ACWI Ex-US, Europe to Join the Party?

Improving Market Dynamics; Outlook Remains Bullish $SPX $IWM $QQQ; MSCI EAFE $EFA, ACWI ex-US $ACWX, and Europe $HEDJ $FEZ to Join the Party?...

Vermilion Research

29 Reasons to Be Bullish

A bottom-up scan of stock charts shows over 29 stocks with bullish technical patterns consisting of uptrends or breakouts from multi-month bases...

Cam Hui

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