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>Brink’s has taken a decisive step to reshape its long-term growth trajectory, announcing a $6.6 billion cash-and-stock agreement to acquire NCR Atleos.</li><li>The transaction, which values Atleos at $30 per share in cash plus 0.1574 Brink’s shares, represents a roughly 24% premium and would create a financial technology infrastructure platform with approximately $10 billion in revenue and $2 billion in adjusted EBITDA.</li><li>Management has framed the acquisition as strategically transformative, vertically integrating hardware, software, ATM management, and cash logistics under one roof.</li></ul>

Brink’s has taken a decisive step to reshape its long-term growth trajectory, announcing a $6.6 billion cash-and-stock agreement to acquire NCR Atleos.The transaction, which values Atleos at $30 per share in cash plus 0.1574 Brink’s shares, represents a roughly 24% premium and would create a financial technology infrastructure platform with approximately $10 billion in revenue and $2 billion in adjusted EBITDA.Management has framed the acquisition as strategically transformative, vertically integrating hardware, software, ATM management, and cash logistics under one roof.

Brink’s $6.6 Billion Power Move: How The NCR Atleos Acquisition Could Redefine Cash Management!

Head of Content, Data & Research, Helixtap

Arusha Das

Head of Content, Data & Research

Global Commodities Alternative Data and Insights

Helixtap

Helixtap collects, processes and distributes proprietary data, analyses and forecasts for the rubber, latex and automotive markets

Commodities

<ul><li>Listen here [0:02:28]What does 'transitory' mean when discussing the phenomena of supercycles? [0:04:14]What is a supercycle, and has this happened in the rubber industry in the past? [0:05:44]What is causing a supercycle - inflation, lack of structural investment, or disrupted supply chains? [0:07:01]What role is COVID-19 playing in creating a supercycle? [0:08:00]What role is inflation playing? [0:09:24]What role is rising interest rates playing? [0:11:46]What role is rising freight costs playing? [0:13:56]Conclusion - is rubber entering a supercycle?</li></ul>

Listen here [0:02:28]What does 'transitory' mean when discussing the phenomena of supercycles? [0:04:14]What is a supercycle, and has this happened in the rubber industry in the past? [0:05:44]What is causing a supercycle - inflation, lack of structural investment, or disrupted supply chains? [0:07:01]What role is COVID-19 playing in creating a supercycle? [0:08:00]What role is inflation playing? [0:09:24]What role is rising interest rates playing? [0:11:46]What role is rising freight costs playing? [0:13:56]Conclusion - is rubber entering a supercycle?

Podcast  Are We Really At The Brink Of A Rubber Supercycle? [16 Mins]

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sk-shieldus-co-ltd" target="_blank" data-smartkarma-citation="entities:35799:1" rel="noopener">SK Shieldus (ABFHIZ KS)</a> is a leading South Korean security provider. It is seeking a KRX IPO to raise up to US$0.9 billion. </li>
<li>The primary change in the updated prospectus is the syndicate's valuation methodology which results in a 10% lower value per share. The IPO price range of KRW31,000-38,800 is unchanged.</li>
<li>Sentiment on IPOs remains poor. For investors willing to look at IPOs, our valuation analysis suggests that the IPO price range remains reasonable.  </li>
</ul>



SK Shieldus (ABFHIZ KS) is a leading South Korean security provider. It is seeking a KRX IPO to raise up to US$0.9 billion. 
The primary change in the updated prospectus is the syndicate's valuation methodology which results in a 10% lower value per share. The IPO price range of KRW31,000-38,800 is unchanged.
Sentiment on IPOs remains poor. For investors willing to look at IPOs, our valuation analysis suggests that the IPO price range remains reasonable.  


SK Shieldus IPO: The Syndicate's Revised Methodology

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sk-shieldus-co-ltd" target="_blank" data-smartkarma-citation="entities:35799:1" rel="noopener">SK Shieldus (ABFHIZ KS)</a> is a leading South Korean security provider. It is pre-marketing a KRX IPO to raise up to US$0.9 billion.  </li>
<li>In <a href="https://www.smartkarma.com/insights/sk-shieldus-ipo-initiation-track-and-shield" target="_blank" data-smartkarma-citation="insights:67989" rel="noopener">SK Shieldus IPO Initiation: Track and Shield</a>, we noted that SK shieldus has attractive fundamentals with healthy growth and margins. The leverage is manageable due to good cash generation.  </li>
<li>In this note, we look at the syndicate's valuation methodology and present our valuation methodology. Our valuation analysis suggests that the IPO price range is attractive.</li>
</ul>



SK Shieldus (ABFHIZ KS) is a leading South Korean security provider. It is pre-marketing a KRX IPO to raise up to US$0.9 billion.  
In SK Shieldus IPO Initiation: Track and Shield, we noted that SK shieldus has attractive fundamentals with healthy growth and margins. The leverage is manageable due to good cash generation.  
In this note, we look at the syndicate's valuation methodology and present our valuation methodology. Our valuation analysis suggests that the IPO price range is attractive.


Professor, Investor, Research Institute CEO, Monash Business School

Deep Kapur

Professor, Investor, Research Institute CEO

Lucem Capital

<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/016/433/original/sohm.PNG?1479222766" class="editor-image img-responsive" data-smartkarma-image-id="16433"></figure>With all the political excitement last week, the first Sohn Sydney conference on 11th November does not appear to have received much airtime within the PM community.Translation: by "community" I mean my five POTUS-fatigued friends who picked up calls last Monday. Typical response: really - there was a Sohn event last week? I have found the Sohn conferences and the ones hosted by Jim Grant to be good sources of long and short ideas for further research. I wasn't at the Sydney conference, but…

With all the political excitement last week, the first Sohn Sydney conference on 11th November does not appear to have received much airtime within the PM community.Translation: by "community" I mean my five POTUS-fatigued friends who picked up calls last Monday. Typical response: really - there was a Sohn event last week? I have found the Sohn conferences and the ones hosted by Jim Grant to be good sources of long and short ideas for further research. I wasn't at the Sydney conference, but…

Longs & Shorts from Sohn Sydney Conference

United States

The Brink's Company provides security services globally.  The Company provides secure transportation, cash logistics and other security-related services to banks and financial institutions, retailers, government agencies, mints, jewelers and other commercial operations around the world.

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Brink's Co/The (BCO US)

Brink’s $6.6 Billion Power Move: How The NCR Atleos Acquisition Could Redefine Cash Management!

Brink’s has taken a decisive step to reshape its long-term growth trajectory, announcing a $6.6 billion cash-and-stock agreement to acquire NCR...

Baptista Research

Podcast Are We Really At The Brink Of A Rubber Supercycle? [16 Mins]

Chairman and Co-Founder of Helixtap Technologies, Brian Miller, discusses the factors driving physical rubber prices higher - inflation, rising...

Helixtap

SK Shieldus IPO: The Syndicate's Revised Methodology

The primary change in the updated prospectus is the syndicate's valuation methodology which results in a 10% lower value per share. The unchanged...

Arun George

SK Shieldus IPO: Valuation Insights

SK shieldus is pre-marketing a KRX IPO to raise up to US$0.9 billion. Our valuation analysis suggests that the IPO price range is attractive.

Arun George

Longs & Shorts from Sohn Sydney Conference

With all the political excitement last week, the first Sohn Sydney conference on 11th November does not appear to have received much airtime within...

Deep Kapur

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