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

American Water Works Co / Equity Bottom-Up

<ul><li>American Water reported a solid 2025 performance, with adjusted earnings of $5.64 per share compared with $5.18 per share in 2024, placing results near the upper end of management’s expectations and reflecting 8.9% earnings growth.</li><li>Revenue benefited from authorized rate increases, recently completed acquisitions, and organic customer growth.</li><li>At the same time, higher operating and financing costs remained a meaningful offset, as operations and maintenance expense rose on employee-related costs and purchased power, while depreciation and interest expense increased in line with the company’s expanding investment base.</li></ul>

American Water reported a solid 2025 performance, with adjusted earnings of $5.64 per share compared with $5.18 per share in 2024, placing results near the upper end of management’s expectations and reflecting 8.9% earnings growth.Revenue benefited from authorized rate increases, recently completed acquisitions, and organic customer growth.At the same time, higher operating and financing costs remained a meaningful offset, as operations and maintenance expense rose on employee-related costs and purchased power, while depreciation and interest expense increased in line with the company’s expanding investment base.

American Water Works' REAL Pressure Point Is Rising Costs Versus Rate Recovery

<ul><li>American Water Works has taken a transformative step by agreeing to acquire Essential Utilities in an all-stock merger that would create the largest regulated water and wastewater utility platform in the United States.</li><li>The transaction, expected to close by the end of the first quarter of 2027, would result in American Water shareholders owning approximately 69% of the combined entity, with Essential Utilities shareholders holding the remaining 31%.</li><li>The pro forma company would command a rate base of roughly $34 billion as of year-end 2024 and serve approximately 5.4 million water, wastewater, and natural gas connections across 17 regulated states and 18 military installations.</li></ul>

American Water Works has taken a transformative step by agreeing to acquire Essential Utilities in an all-stock merger that would create the largest regulated water and wastewater utility platform in the United States.The transaction, expected to close by the end of the first quarter of 2027, would result in American Water shareholders owning approximately 69% of the combined entity, with Essential Utilities shareholders holding the remaining 31%.The pro forma company would command a rate base of roughly $34 billion as of year-end 2024 and serve approximately 5.4 million water, wastewater, and natural gas connections across 17 regulated states and 18 military installations.

American Water And Essential Utilities: The Mega-Utility Deal Shaking Up Investors!

<ul><li>American Water reported solid financial results for the second quarter of 2025, highlighting a positive trajectory in earnings and business operations.</li><li>The company's earnings per share (EPS) for the quarter were $1.48, an increase from $1.42 in the same period last year.</li><li>For the first half of the year, EPS grew to $2.53 compared to $2.37 in 2024.</li></ul>

American Water reported solid financial results for the second quarter of 2025, highlighting a positive trajectory in earnings and business operations.The company's earnings per share (EPS) for the quarter were $1.48, an increase from $1.42 in the same period last year.For the first half of the year, EPS grew to $2.53 compared to $2.37 in 2024.

American Water Shocks Investors With Aggressive Multi-State Growth Strategy!

<ul><li>American Water Works Company, Inc. reported an earnings per share (EPS) of $1.48 for the second quarter of 2025, an increase from $1.42 in the same quarter of the previous year.</li><li>For the first half of 2025, EPS reached $2.53 compared to $2.37 in the first half of 2024.</li><li>This growth has led the company to narrow its 2025 EPS guidance range to $5.70 to $5.75, suggesting strong business performance and anticipating a continuation of this trend into the remainder of the year.</li></ul>

American Water Works Company, Inc. reported an earnings per share (EPS) of $1.48 for the second quarter of 2025, an increase from $1.42 in the same quarter of the previous year.For the first half of 2025, EPS reached $2.53 compared to $2.37 in the first half of 2024.This growth has led the company to narrow its 2025 EPS guidance range to $5.70 to $5.75, suggesting strong business performance and anticipating a continuation of this trend into the remainder of the year.

American Water Works Masterplan: How Regulatory Wins

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>We will stay near-term bullish as long as crucial support levels of 6780-6824 on SPX and $255-$257 on IWM continue to hold</li>
<li>We see deterioration in market dynamics, and while we still expect a period of consolidation/pullback, aforementioned support levels need to break to give us confidence that the pullback has begun.</li>
<li>We are upgrading Staples (XLP) to overweight, and we are downgrading Services to underweight</li>
</ul>


We will stay near-term bullish as long as crucial support levels of 6780-6824 on SPX and $255-$257 on IWM continue to hold
We see deterioration in market dynamics, and while we still expect a period of consolidation/pullback, aforementioned support levels need to break to give us confidence that the pullback has begun.
We are upgrading Staples (XLP) to overweight, and we are downgrading Services to underweight


Upgrading Staples to Overweight; Downgrading Services. Still Cautious; Market Dynamics Deteriorating

United States

American Water Works Co., Inc. provides drinking water, wastewater and other water-related services in multiple states and Ontario, Canada. The Company's primary business involves the ownership of regulated water and wastewater utilities that provide water and wastewater services to residential, commercial and industrial customers.

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

American Water Works Co (AWK US)

American Water Works' REAL Pressure Point Is Rising Costs Versus Rate Recovery

American Water reported a solid 2025 performance, with adjusted earnings of $5.64 per share compared with $5.18 per share in 2024, placing results...

Baptista Research

American Water And Essential Utilities: The Mega-Utility Deal Shaking Up Investors!

American Water Works has taken a transformative step by agreeing to acquire Essential Utilities in an all-stock merger that would create the...

Baptista Research

American Water Shocks Investors With Aggressive Multi-State Growth Strategy!

American Water reported solid financial results for the second quarter of 2025, highlighting a positive trajectory in earnings and business...

Baptista Research

American Water Works Masterplan: How Regulatory Wins

American Water Works Company, Inc. reported an earnings per share (EPS) of $1.48 for the second quarter of 2025, an increase from $1.42 in the...

Baptista Research

Upgrading Staples to Overweight; Downgrading Services. Still Cautious; Market Dynamics Deteriorating

Upgrading Staples $XLP to Overweight; Downgrading Services. Cautious $SPX $QQQ; Market Dynamics Deteriorating as Defensives Take the Lead $XLU...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)