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

Broadridge Financial Solutions, Inc / Equity Bottom-Up

<ul><li>The latest earnings call transcript for Broadridge Financial Solutions reveals steady growth and a positive fiscal year outlook.</li><li>Broadridge achieved impressive Q2 results, with healthy organic growth across both segments aligning with their long-term goals.</li><li>Strong fund position growth and mid-single-digit equity position growth contributed to their financial performance.</li></ul>

The latest earnings call transcript for Broadridge Financial Solutions reveals steady growth and a positive fiscal year outlook.Broadridge achieved impressive Q2 results, with healthy organic growth across both segments aligning with their long-term goals.Strong fund position growth and mid-single-digit equity position growth contributed to their financial performance.

Broadridge Financial Solutions: Closed Sales Outlook & Changing Demand Environment - Will They Adapt? - Major Drivers

<ul><li>Broadridge Financial Solutions, Inc. managed to surpass the revenue expectations as well as the earnings expectations of Wall Street, marked by an 8% surge in recurring revenue, entirely organic.</li><li>The adjusted EPS saw a remarkable 30% increase, propelled by robust recurring revenue expansion, event-driven fee timing, and sustained expense discipline.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Broadridge Financial Solutions, Inc. managed to surpass the revenue expectations as well as the earnings expectations of Wall Street, marked by an 8% surge in recurring revenue, entirely organic.The adjusted EPS saw a remarkable 30% increase, propelled by robust recurring revenue expansion, event-driven fee timing, and sustained expense discipline.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Broadridge Financial Solutions: NYFIX Fill Matching: Broadridge's Post-Trade Game Changer! - Major Drivers

<ul><li>Broadridge delivered a mixed set of results for the previous quarter, with revenues well below analyst expectations, but managed an earnings beat.</li><li>The company reported an 8% growth in recurring revenue, with impressive earnings growth of 21%.</li><li>The company's guidance for fiscal '24 predicts organic recurring revenue growth of 6% to 9%, adjusted EPS growth of 8% to 12%, and an approximate 100% free cash flow conversion.</li></ul>

Broadridge delivered a mixed set of results for the previous quarter, with revenues well below analyst expectations, but managed an earnings beat.The company reported an 8% growth in recurring revenue, with impressive earnings growth of 21%.The company's guidance for fiscal '24 predicts organic recurring revenue growth of 6% to 9%, adjusted EPS growth of 8% to 12%, and an approximate 100% free cash flow conversion.

Broadridge Financial Solutions: Unveiling Fiscal 2024 Predictions - Organic Growth & More! - Major Drivers

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.

Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration (LNK AU)</a> IE considers <a href="https://www.smartkarma.com/entities/mitsubishi-ufj-financial-group" target="_blank" data-smartkarma-citation="entities:218:1" rel="noopener">Mitsubishi UFJ Financial (MUFG) (8306 JP)</a>’s A$2.26 offer fair and reasonable as it is within its A$2.11-2.70 per share valuation range.</li>
<li>The scheme remains conditional on several regulatory approvals - FIRB, Central Bank of Ireland, Isle of Man Financial Services Authority, India SEBI, and Financial Services Agency of Japan.</li>
<li>Several substantial shareholders have sold or exited, lowering the scheme's risk. At the last close and for the 16 May payment, the gross/annualised spread was 1.3%/9.7%.</li>
</ul>


The Link Administration (LNK AU) IE considers Mitsubishi UFJ Financial (MUFG) (8306 JP)’s A$2.26 offer fair and reasonable as it is within its A$2.11-2.70 per share valuation range.
The scheme remains conditional on several regulatory approvals - FIRB, Central Bank of Ireland, Isle of Man Financial Services Authority, India SEBI, and Financial Services Agency of Japan.
Several substantial shareholders have sold or exited, lowering the scheme's risk. At the last close and for the 16 May payment, the gross/annualised spread was 1.3%/9.7%.


Link Admin (LNK AU): Scheme Vote on 24 April

<ul>
<li>
<a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration (LNK AU)</a> has entered a SID with <a href="https://www.smartkarma.com/entities/mitsubishi-ufj-financial-group" target="_blank" data-smartkarma-citation="entities:218:1" rel="noopener">Mitsubishi UFJ Financial (MUFG) (8306 JP)</a> at A$2.26 (A$2.10 scheme consideration + A$0.16 dividend), a 32.9% premium to the undisturbed price.</li>
<li>The presence of several substantial shareholders, lack of irrevocables, a light offer, recent derisking of the business and a long-dated offer pose a challenge for the scheme to get up. </li>
<li>MUFG’s offer could spark a rival offer, but Link’s long-suffering shareholders have endured a history of failed bids. At the last close, the risk/reward is unfavourable.</li>
</ul>



Link Administration (LNK AU) has entered a SID with Mitsubishi UFJ Financial (MUFG) (8306 JP) at A$2.26 (A$2.10 scheme consideration + A$0.16 dividend), a 32.9% premium to the undisturbed price.
The presence of several substantial shareholders, lack of irrevocables, a light offer, recent derisking of the business and a long-dated offer pose a challenge for the scheme to get up. 
MUFG’s offer could spark a rival offer, but Link’s long-suffering shareholders have endured a history of failed bids. At the last close, the risk/reward is unfavourable.


Link Admin (LNK AU): MUFG’s Underwhelming Binding Offer

United States

Broadridge Financial Solutions Inc. provides technology-based outsourcing solutions to the financial services industry. The Company offers a broad range of solutions that help clients serve their retail and institutional customers across the entire investment lifecycle, including pre-trade, trade, and post-trade processing.

Broadridge Financial Solutions, Inc (BR US)

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Broadridge Financial Solutions, Inc (BR US)

Broadridge Financial Solutions: Closed Sales Outlook & Changing Demand Environment - Will They Adapt? - Major Drivers

The latest earnings call transcript for Broadridge Financial Solutions reveals steady growth and a positive fiscal year outlook. Broadridge...

Baptista Research

Broadridge Financial Solutions: NYFIX Fill Matching: Broadridge's Post-Trade Game Changer! - Major Drivers

Broadridge Financial Solutions, Inc. managed to surpass the revenue expectations as well as the earnings expectations of Wall Street, marked by an...

Baptista Research

Broadridge Financial Solutions: Unveiling Fiscal 2024 Predictions - Organic Growth & More! - Major Drivers

Broadridge delivered a mixed set of results for the previous quarter, with revenues well below analyst expectations, but managed an earnings...

Baptista Research

Link Admin (LNK AU): Scheme Vote on 24 April

Several substantial shareholders have sold or exited, lowering the scheme's risk. At the last close and for the 16 May payment, the gross...

Arun George

Link Admin (LNK AU): MUFG’s Underwhelming Binding Offer

The presence of several substantial shareholders, lack of irrevocables, a light offer, recent derisking of the business and a long-dated offer pose...

Arun George

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