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>Badger Meter delivered a robust fourth quarter for 2024, showcasing strong performance across key financial metrics and furthering strategic initiatives.</li><li>The company reported a 13% increase in quarterly sales, driven significantly by its utility water product line, with notable contributions from its BlueEdge suite, including cellular AMI, associated meters, and Beacon software.</li><li>Flow instrumentation sales also showed slight growth, although certain non-core markets experienced declines.</li></ul>

Badger Meter delivered a robust fourth quarter for 2024, showcasing strong performance across key financial metrics and furthering strategic initiatives.The company reported a 13% increase in quarterly sales, driven significantly by its utility water product line, with notable contributions from its BlueEdge suite, including cellular AMI, associated meters, and Beacon software.Flow instrumentation sales also showed slight growth, although certain non-core markets experienced declines.

Badger Meter Shakes Up Smart Water Tech With SmartCover Acquisition – What Is The Long Term Impact?

<ul><li>Badger Meter has reported a robust third quarter 2024, showcasing strong financial performance amidst challenging market conditions.</li><li>The company achieved a 12% year-over-year increase in top-line sales, building on a significant 26% growth in the same quarter of the previous year.</li><li>This growth was driven largely by the utility water product line, which saw a 14% rise, reflecting solid demand for Badger Meter's BlueEdge suite of utility smart water solutions.</li></ul>

Badger Meter has reported a robust third quarter 2024, showcasing strong financial performance amidst challenging market conditions.The company achieved a 12% year-over-year increase in top-line sales, building on a significant 26% growth in the same quarter of the previous year.This growth was driven largely by the utility water product line, which saw a 14% rise, reflecting solid demand for Badger Meter's BlueEdge suite of utility smart water solutions.

Badger Meter: Expanding Product Portfolio & Innovation To Set New Standards! - Major Drivers

<ul><li>Badger Meter Inc.'s second quarter earnings of 2024 reflected a robust performance.</li><li>The company exceeded expectations, reporting quarterly revenues of $217 million, which marks a 23% year-over-year increase.</li><li>This milestone was primarily driven by strong market demand and the efficient conversion of backlogs, which was slightly above anticipated levels.</li></ul>

Badger Meter Inc.'s second quarter earnings of 2024 reflected a robust performance.The company exceeded expectations, reporting quarterly revenues of $217 million, which marks a 23% year-over-year increase.This milestone was primarily driven by strong market demand and the efficient conversion of backlogs, which was slightly above anticipated levels.

Badger Meter Inc.: Initiation Of Coverage - Dealing With Financial Performance Stability and Margin Pressure! - Major Drivers

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>While the market remains in consolidation/pullback mode and we are not out of the woods, it is possible that further downside is limited from here on the S&amp;P 500</li>
<li>Since late-February, we've discussed important gap support from 2/22/24 at 4983-5050 on the SPX, with bulls in control if above 4983. Selling last week has simply filled this gap</li>
<li>4920-4950 is now support near last week's lows. Downgrade: Technology (XLK) to market weight. Upgrades: Manufacturing/Industrials (XLI) to overweight and Utilities (XLU) to market weight; individual stock buys highlighted.</li>
</ul>


While the market remains in consolidation/pullback mode and we are not out of the woods, it is possible that further downside is limited from here on the S&amp;P 500
Since late-February, we've discussed important gap support from 2/22/24 at 4983-5050 on the SPX, with bulls in control if above 4983. Selling last week has simply filled this gap
4920-4950 is now support near last week's lows. Downgrade: Technology (XLK) to market weight. Upgrades: Manufacturing/Industrials (XLI) to overweight and Utilities (XLU) to market weight; individual stock buys highlighted.


Shifting Exposure From Growth to Value; Downgrading Technology; Upgrades: Manufacturing & Utilities

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>The WTR Sustainable Index was up down 3.9% W/W versus the S&amp;P 500 Index (down 3.0%), the Russell 2000 Index (down 2.8%), and the Nasdaq Index (down 5.4%).</li><li>Energy Technology (12.0% of the index) was down by 6.6%, while Industrial Climate and Ag Technology (58.1% of the index) was down by 2.2%, ClimateTech Mining was down 5.9%, and Advanced Transportation Solutions (23.4% of index) was down 6.7%.</li><li>Top 10 Performers: FSR, PNPN, VTNR, AMMP, TLO, WML, KNDI, GOEV, BMI, CRGE</li></ul>

The WTR Sustainable Index was up down 3.9% W/W versus the S&amp;P 500 Index (down 3.0%), the Russell 2000 Index (down 2.8%), and the Nasdaq Index (down 5.4%).Energy Technology (12.0% of the index) was down by 6.6%, while Industrial Climate and Ag Technology (58.1% of the index) was down by 2.2%, ClimateTech Mining was down 5.9%, and Advanced Transportation Solutions (23.4% of index) was down 6.7%.Top 10 Performers: FSR, PNPN, VTNR, AMMP, TLO, WML, KNDI, GOEV, BMI, CRGE

Weekly Sustainable Investing Surveyor - Week Ended April 19, 2024

United States

Badger Meter, Inc. manufactures and markets flow measurement and control products.  The Company's products are used to measure and control the flow of liquids and gases in a variety of applications.  Badger's products include water meters and associated systems, wastewater meters, industrial process meters, automotive fluid meters, small valves, and natural gas instruments.

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Badger Meter (BMI US)

Badger Meter Shakes Up Smart Water Tech With SmartCover Acquisition – What Is The Long Term Impact?

Badger Meter delivered a robust fourth quarter for 2024, showcasing strong performance across key financial metrics and furthering strategic...

Baptista Research

Badger Meter: Expanding Product Portfolio & Innovation To Set New Standards! - Major Drivers

Badger Meter has reported a robust third quarter 2024, showcasing strong financial performance amidst challenging market conditions. The company...

Baptista Research

Badger Meter Inc.: Initiation Of Coverage - Dealing With Financial Performance Stability and Margin Pressure! - Major Drivers

Badger Meter Inc.'s second quarter earnings of 2024 reflected a robust performance. The company exceeded expectations, reporting quarterly...

Baptista Research

Shifting Exposure From Growth to Value; Downgrading Technology; Upgrades: Manufacturing & Utilities

Shift Exposure From Growth to Value; Downgrading Tech to market weight $XLK; Upgrading Industrials $XLI to Overweight; Upgrading Utilities $XLU to...

Vermilion Research

Weekly Sustainable Investing Surveyor - Week Ended April 19, 2024

The WTR Sustainable Index was up down 3.9% W/W versus the S&P 500 Index (down 3.0%), the Russell 2000 Index (down 2.8%), and the Nasdaq Index (down...

Water Tower Research

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