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>BT Group's half-year performance reflects a mixed set of results, with progress in strategic priorities met with challenges in certain segments.</li><li>The company continued to focus on its five strategic priorities, which include enhancing its UK presence, accelerating fiber build-out, reducing costs, and improving customer satisfaction.</li><li>Notably, the Openreach division achieved significant milestones in its fiber build-out and connections, surpassing expectations, and maintaining its market-leading position with a strong take-up rate of 35%.</li></ul>

BT Group's half-year performance reflects a mixed set of results, with progress in strategic priorities met with challenges in certain segments.The company continued to focus on its five strategic priorities, which include enhancing its UK presence, accelerating fiber build-out, reducing costs, and improving customer satisfaction.Notably, the Openreach division achieved significant milestones in its fiber build-out and connections, surpassing expectations, and maintaining its market-leading position with a strong take-up rate of 35%.

BT Group: Initiation of Coverage- Expansion of Fiber Network Infrastructure To Up Their Game!

European Event-Driven Analyst

Jesus Rodriguez Aguilar

Event-Driven

<ul>
<li>The public holding company SEPI, controlled by the Spanish Treasury, has confirmed to the CNMV that it is studying the possibility of acquiring a stake in <a href="https://www.smartkarma.com/entities/telefonica-sa" target="_blank" data-smartkarma-citation="entities:21299:1" rel="noopener">Telefonica SA (TEF SM).</a>
</li>
<li>Market speculates with a 5% stake to counterbalance the current 4.9% stake of STC (which could execute an option to acquire another 5% pending Government authorisation).</li>
<li>At current market prices, it is equivalent to 22.04 trading sessions. Q3 results and Capital Markets Day, the first major strategic update in years, will take place on 8 November. </li>
</ul>


The public holding company SEPI, controlled by the Spanish Treasury, has confirmed to the CNMV that it is studying the possibility of acquiring a stake in Telefonica SA (TEF SM).

Market speculates with a 5% stake to counterbalance the current 4.9% stake of STC (which could execute an option to acquire another 5% pending Government authorisation).
At current market prices, it is equivalent to 22.04 trading sessions. Q3 results and Capital Markets Day, the first major strategic update in years, will take place on 8 November. 


Quality-first, Business-perspective, Long-term, Urbem (HK) Limited

Urbem Capital

Quality-first, Business-perspective, Long-term

<ul>
<li>Despite a micro-cap status, Calnex is the key player behind the evolution of high-speed network infrastructure on a truly global basis;</li>
<li>The company has a market-dominant position at several critical points across the global telecoms ecosystem;</li>
<li>The recent plunge in share price demonstrates Mr. Market's short-termism and presents a good opportunity for incoming shareholders, in our opinion.</li>
</ul>


Despite a micro-cap status, Calnex is the key player behind the evolution of high-speed network infrastructure on a truly global basis;
The company has a market-dominant position at several critical points across the global telecoms ecosystem;
The recent plunge in share price demonstrates Mr. Market's short-termism and presents a good opportunity for incoming shareholders, in our opinion.


Calnex: De-Facto Standards for High-Speed Network Infrastructure Worldwide

Japan TMT Analyst

Pelham Smithers

Market Intel on Asian Tech with a Japan focus

Pelham Smithers Associates

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

Research is provided by the following:
Pelham Smithers: Macro, consumer electronics, telecoms & pharma
Joel Scheiman: Electronics materials / components
Julie Boote: Autos
Will Nestuk: Capital goods, machinery & transportation equipment parts
Thao Nguyen: eCommerce, internet content, marketing & advertising

It is over a decade since the IBM RFID shopping advert came out (still well worth a watch at <a href="https://www.youtube.com/watch?v=WGuXOuQOe18" target="_blank">https://www.youtube.com/watch?v=WGuXOuQOe18</a>) and this technology is yet to appear on our high streets. Indeed, <a href="https://www.smartkarma.com/entities/409" target="_blank" data-smartkarma-citation="entities:409:1">Amazon's</a> solution at its Amazon Go store in Seattle forgoes RFID in favour of LIDAR and camera technology. Still, we may only be months away from an implementation in Japan. Five leading Japanese convenience (CVS) stores (<a href="https://www.smartkarma.com/entities/1041" target="_blank" data-smartkarma-citation="entities:1041:1">Seven &amp; I (3382 JP)</a>, <a href="https://www.smartkarma.com/entities/1043" target="_blank" data-smartkarma-citation="entities:1043:1">Ministop (9946 JP)</a>, <a href="https://www.smartkarma.com/entities/320" target="_blank" data-smartkarma-citation="entities:320:1">Familymart (8028 JP),</a><a href="https://www.smartkarma.com/entities/14271" target="_blank" data-smartkarma-citation="entities:14271:1">East Japan</a>…

It is over a decade since the IBM RFID shopping advert came out (still well worth a watch at https://www.youtube.com/watch?v=WGuXOuQOe18) and this technology is yet to appear on our high streets. Indeed, Amazon's solution at its Amazon Go store in Seattle forgoes RFID in favour of LIDAR and camera technology. Still, we may only be months away from an implementation in Japan. Five leading Japanese convenience (CVS) stores (Seven &amp; I (3382 JP), Ministop (9946 JP), Familymart (8028 JP),East Japan…

Japan Moves Towards RFID Scanning at Checkout

M&A Reporting, CTFN

Jonathan Spitzer

M&A Reporting

CTFN

Bringing the marketplace leading coverage of mergers, events, and major corporate actions, CTFN has a team of seasoned reporters from Los Angeles to London, publishing news that advances stories that matter to event-driven investors and deal professionals.

BT Group and Orange are rumored to have taken an interest in Masergy Communication’s sale, a sector executive and a banker told CTFN.  Masergy offers a cloud service through a software defined platform, and the two European telecoms are attracted to a “unique” feature that integrates networks from different vendors and different types of technologies, said the executive.

BT Group and Orange are rumored to have taken an interest in Masergy Communication’s sale, a sector executive and a banker told CTFN.  Masergy offers a cloud service through a software defined platform, and the two European telecoms are attracted to a “unique” feature that integrates networks from different vendors and different types of technologies, said the executive.

BT and Orange Rumored to Have Interest in Masergy

United Kingdom

BT Group is a British multinational telecommunications holding company offering fixed-line, broadband, mobile, and subscription television services, alongside IT and network services. It provides a range of products including mobile plans, fixed broadband, TV and home services, wholesale network access, enterprise connectivity, voice, and security solutions. The company is headquartered in London, England, and its origins date back to the founding of the Electric Telegraph Company in 1846.

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BT Group (BT/A LN)

BT Group: Initiation of Coverage- Expansion of Fiber Network Infrastructure To Up Their Game!

BT Group's half-year performance reflects a mixed set of results, with progress in strategic priorities met with challenges in certain...

Baptista Research

Back in Telefonica

SEPI, the Spanish Treasury's public holding company, is considering buying a stake in Telefonica SA, possibly around 5% to gain a seat in the...

Jesus Rodriguez Aguilar

Calnex: De-Facto Standards for High-Speed Network Infrastructure Worldwide

Mr. Market's short-termism presents a rare opportunity for investors to acquire shares in this high-quality business at a reasonable price.

Urbem Capital

Japan Moves Towards RFID Scanning at Checkout

It is over a decade since the IBM RFID shopping advert came out (still well worth a watch at https://www.youtube.com/watch?v=WGuXOuQOe18) and this...

Pelham Smithers Associates

BT and Orange Rumored to Have Interest in Masergy

BT Group and Orange are rumored to have taken an interest in Masergy Communication’s sale, a sector executive and a banker told CTFN. Masergy...

CTFN

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

BT Group: Initiation of Coverage- Expansion of Fiber Network Infrastructure To Up Their Game!

BT Group's half-year performance reflects a mixed set of results, with progress in strategic priorities met with challenges in certain...

Baptista Research

Back in Telefonica

​SEPI, the Spanish Treasury's public holding company, is considering buying a stake in Telefonica SA, possibly around 5% to gain a seat in the...

Jesus Rodriguez Aguilar

Calnex: De-Facto Standards for High-Speed Network Infrastructure Worldwide

Mr. Market's short-termism presents a rare opportunity for investors to acquire shares in this high-quality business at a reasonable price.

Urbem Capital

Japan Moves Towards RFID Scanning at Checkout

It is over a decade since the IBM RFID shopping advert came out (still well worth a watch at https://www.youtube.com/watch?v=WGuXOuQOe18) and this...

Pelham Smithers Associates

BT and Orange Rumored to Have Interest in Masergy

BT Group and Orange are rumored to have taken an interest in Masergy Communication’s sale, a sector executive and a banker told CTFN. Masergy...

CTFN

SEPI, the Spanish Treasury's public holding company, is considering buying a stake in Telefonica SA, possibly around 5% to gain a seat in the...