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>Bunge Global reported an improved financial performance in the second quarter of 2026 amid a complex and evolving global operating environment marked by geopolitical tensions, shifting trade flows, and weather-related disruptions impacting crop availability.</li><li>The company highlighted its diversified global platform across crops and geographies as providing resilience and balance, particularly in soybean and softseed processing.</li><li>For the quarter, reported earnings per share (EPS) increased to $3.47 from $2.61 a year prior, with an adjusted EPS of $2.00 compared to $1.31.</li></ul>

Bunge Global reported an improved financial performance in the second quarter of 2026 amid a complex and evolving global operating environment marked by geopolitical tensions, shifting trade flows, and weather-related disruptions impacting crop availability.The company highlighted its diversified global platform across crops and geographies as providing resilience and balance, particularly in soybean and softseed processing.For the quarter, reported earnings per share (EPS) increased to $3.47 from $2.61 a year prior, with an adjusted EPS of $2.00 compared to $1.31.

Bunge Global’s Viterra Synergies Run Ahead Of Plan: What Comes Next?

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>
<strong><a href="https://www.smartkarma.com/entities/wilmar-international-ltd" target="_blank" data-smartkarma-citation="entities:172:1" rel="noopener">Wilmar International (WIL SP)</a></strong> is coming up "cheap" to 90%-held <strong><a href="https://www.smartkarma.com/entities/yihai-kerry-arawana-holdings-c" target="_blank" data-smartkarma-citation="entities:33230:1" rel="noopener">Yihai Kerry Arawana Holdings C (300999 CH)</a>; </strong>yet implied stub numbers suggests otherwise. </li>
<li>Preceding my comments on Wilmar are the current setup/unwind tables for Asia-Pacific Holdcos.</li>
<li>These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.</li>
</ul>



Wilmar International (WIL SP) is coming up "cheap" to 90%-held Yihai Kerry Arawana Holdings C (300999 CH); yet implied stub numbers suggests otherwise. 
Preceding my comments on Wilmar are the current setup/unwind tables for Asia-Pacific Holdcos.
These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.


StubWorld: Wilmar Trading "Cheap" To YKA. Understandably.

<ul><li>Bunge Global reported first quarter 2026 results that surpassed expectations amid a complex and rapidly evolving global environment.</li><li>The company highlighted the disruption caused by the Middle East conflict, affecting global trade flows, logistics, and supply chains.</li><li>These geopolitical events have led Bunge to implement operational measures aimed at preserving commodity supply continuity and managing risks, leveraging its global footprint and logistics capabilities.</li></ul>

Bunge Global reported first quarter 2026 results that surpassed expectations amid a complex and rapidly evolving global environment.The company highlighted the disruption caused by the Middle East conflict, affecting global trade flows, logistics, and supply chains.These geopolitical events have led Bunge to implement operational measures aimed at preserving commodity supply continuity and managing risks, leveraging its global footprint and logistics capabilities.

Bunge Global: Can The $9.00 EPS Floor Hold If Biofuel Demand And Tropical Oils Both Disappoint?

<ul><li>Over the fourth quarter of 2025, Bunge Limited reported a mixed performance in its financial results, highlighting both opportunities and challenges in the evolving global market.</li><li>The integration of Viterra has marked a significant milestone for Bunge, enabling the company to optimize its end-to-end value chain.</li><li>The synergy capture from the Viterra acquisition is reportedly progressing ahead of schedule, with expectations of realizing $190 million in synergies for 2026, mainly on the cost side, indicative of strong integration work.</li></ul>

Over the fourth quarter of 2025, Bunge Limited reported a mixed performance in its financial results, highlighting both opportunities and challenges in the evolving global market.The integration of Viterra has marked a significant milestone for Bunge, enabling the company to optimize its end-to-end value chain.The synergy capture from the Viterra acquisition is reportedly progressing ahead of schedule, with expectations of realizing $190 million in synergies for 2026, mainly on the cost side, indicative of strong integration work.

Bunge Is Unlocking Massive Synergies Faster Than Expected—and the Upside Isn’t Fully Priced In!

<ul><li>The Bunge Global Third Quarter 2025 earnings call encapsulated a significant period for Bunge Limited, as the company commenced operations as a unified entity following the Viterra acquisition.</li><li>This merger has begun showing potential strategic advantages such as enhanced processing capacities, especially in regions like South America.</li><li>The integration aims to elevate operational agility and market responsiveness, factors emphasized by CEO Gregory Heckman and CFO John Neppl during the call.</li></ul>

The Bunge Global Third Quarter 2025 earnings call encapsulated a significant period for Bunge Limited, as the company commenced operations as a unified entity following the Viterra acquisition.This merger has begun showing potential strategic advantages such as enhanced processing capacities, especially in regions like South America.The integration aims to elevate operational agility and market responsiveness, factors emphasized by CEO Gregory Heckman and CFO John Neppl during the call.

Bunge Limited: Inside the High-Stakes Synergy Play That Could Transform Global Ag Markets!

United States

Bunge Limited is a global agribusiness and food company. The Company buys, sells, stores, transports and processes oilseeds and grains to make protein meal for animal feed and edible oil products for commercial customers and consumers. Bunge also produces sugar and ethanol from sugarcane, mills wheat and corn, and sells fertilizer.

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Bunge Ltd (BG US)

Bunge Global’s Viterra Synergies Run Ahead Of Plan: What Comes Next?

Bunge Global reported an improved financial performance in the second quarter of 2026 amid a complex and evolving global operating environment...

Baptista Research

StubWorld: Wilmar Trading "Cheap" To YKA. Understandably.

Wilmar is coming up "cheap" to YKA, yet the implied stub numbers suggests otherwise. I'd be reluctant to long Wilmar, short YKA right here. I would...

David Blennerhassett

Bunge Global: Can The $9.00 EPS Floor Hold If Biofuel Demand And Tropical Oils Both Disappoint?

Bunge Global reported first quarter 2026 results that surpassed expectations amid a complex and rapidly evolving global environment. The company...

Baptista Research

Bunge Is Unlocking Massive Synergies Faster Than Expected—and the Upside Isn’t Fully Priced In!

Over the fourth quarter of 2025, Bunge Limited reported a mixed performance in its financial results, highlighting both opportunities and...

Baptista Research

Bunge Limited: Inside the High-Stakes Synergy Play That Could Transform Global Ag Markets!

The Bunge Global Third Quarter 2025 earnings call encapsulated a significant period for Bunge Limited, as the company commenced operations as a...

Baptista Research

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