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.

Credit

<ul><li>Rising aluminum and alumina prices are responsible for Alcoa's strong performance in 2021.</li><li>The company's value-add aluminum products have seen significant year-over-year growth.</li><li>Based on our credit analysis, the company merits a Credit Evaluation Score of BBβ with a stable outlook and as per our Financial Strength Indicator, its performance is 3.36/ 5.</li></ul>

Rising aluminum and alumina prices are responsible for Alcoa's strong performance in 2021.The company's value-add aluminum products have seen significant year-over-year growth.Based on our credit analysis, the company merits a Credit Evaluation Score of BBβ with a stable outlook and as per our Financial Strength Indicator, its performance is 3.36/ 5.

Alcoa Corp.: Detailed Credit Analysis & Financial Strength Evaluation Report

Equity Capital Markets

<ul><li>Aluminum and alumina prices are higher than they have been in more than a decade, which helped Alcoa have another strong quarter.</li><li>Its revenues of $3.1 billion were up $276 million, or 10%, from the previous quarter driven by the company's value-add aluminum products which have seen significant year-over-year growth.</li><li>The management expects another solid performance in the fourth quarter, with Alumar refinery production returning to near-normal operating levels and current Aluminum and Alumina index pricing levels remaining stable.</li></ul>

Aluminum and alumina prices are higher than they have been in more than a decade, which helped Alcoa have another strong quarter.Its revenues of $3.1 billion were up $276 million, or 10%, from the previous quarter driven by the company's value-add aluminum products which have seen significant year-over-year growth.The management expects another solid performance in the fourth quarter, with Alumar refinery production returning to near-normal operating levels and current Aluminum and Alumina index pricing levels remaining stable.

<ul><li>Metal stocks have been on a roll off late after the rall in commodities particularly in aluminum prices.</li><li>Alcoa has been one of the biggest beneficiaries of the same as the company managed to deliver yet another all-around beat.</li><li>It delivered its highest-ever quarterly net income of $337 million for Q3 result, driven by 10% sequential growth in revenue given the sharp spike in aluminum and alumina prices.</li></ul>

Metal stocks have been on a roll off late after the rall in commodities particularly in aluminum prices.Alcoa has been one of the biggest beneficiaries of the same as the company managed to deliver yet another all-around beat.It delivered its highest-ever quarterly net income of $337 million for Q3 result, driven by 10% sequential growth in revenue given the sharp spike in aluminum and alumina prices.

<ul><li>Alcoa reached the target price from our last report as the company reported a stellar result with its highest-ever quarterly net income since the time when the company was spun-off in 2016.</li><li>The upstream aluminum giant witnessed a staggering 60% jump in the average aluminum prices which helped deliver a blowout result.</li><li>We are bullish on Alcoa given the strong end-market demand and give it a ‘Buy’ rating with a revised target price.</li></ul>

Alcoa reached the target price from our last report as the company reported a stellar result with its highest-ever quarterly net income since the time when the company was spun-off in 2016.The upstream aluminum giant witnessed a staggering 60% jump in the average aluminum prices which helped deliver a blowout result.We are bullish on Alcoa given the strong end-market demand and give it a ‘Buy’ rating with a revised target price.

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

Equity Bottom-Up

10 in 10 with Civmec - Providing Australia’s leading turnkey solutions

United States

Alcoa Corporation manufactures metal products. The Company produces and sells bauxite, alumina, and aluminum products. Alcoa serves aluminum industry worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Alcoa (AA US)

Alcoa Corp.: Detailed Credit Analysis & Financial Strength Evaluation Report

Rising aluminum and alumina prices are responsible for Alcoa's strong performance in 2021. The company's value-add aluminum products have seen...

Baptista Research

Alcoa Corp - Investment Thesis

Aluminum and alumina prices are higher than they have been in more than a decade, which helped Alcoa have another strong quarter. Its revenues of...

Baptista Research

Alcoa Corp - Investment Thesis

Metal stocks have been on a roll off late after the rall in commodities particularly in aluminum prices. Alcoa has been one of the biggest...

Baptista Research

Alcoa Corp - Investment Thesis

Alcoa reached the target price from our last report as the company reported a stellar result with its highest-ever quarterly net income since the...

Baptista Research

10 in 10 with Civmec - Providing Australia’s leading turnkey solutions

Singapore Exchange Ltd (SGX)

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)