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.

Credit

<ul><li>Campbell Soup has been combatting inflationary pressures and supply chain constraints but has managed to report a fairly decent financial performance in line with the management expectations.</li><li>This pressure is primarily caused by Campbell Soup’s supply chain constraints.</li><li>With the Covid-19 tailwinds associated with at-home consumption fading away, Campbell Soup has an uphill task ahead.</li></ul>

Campbell Soup has been combatting inflationary pressures and supply chain constraints but has managed to report a fairly decent financial performance in line with the management expectations.This pressure is primarily caused by Campbell Soup’s supply chain constraints.With the Covid-19 tailwinds associated with at-home consumption fading away, Campbell Soup has an uphill task ahead.

Campbell Soup: Detailed Credit Analysis & Financial Strength Evaluation Report

Equity Capital Markets

Campbell Soup Co / Equity Capital Markets

<ul><li>Like most other food companies, Campbell Soup continues to struggle with inflationary pressure but it did manage to deliver a decent set of results that exceeded the market expectations across all the three key metrics i.e., net sales, adjusted EBITDA, and adjusted earnings.</li><li>The management was able to cope with executional pressures well and worked hard to push organic net sales to grow by 3% on a two-year compounded annual growth basis.</li><li>Campbell's Ready-to-Serve in-market consumption grew impressively by 21% on a two-year basis and is expected to be a strong growth driver.</li></ul>

Like most other food companies, Campbell Soup continues to struggle with inflationary pressure but it did manage to deliver a decent set of results that exceeded the market expectations across all the three key metrics i.e., net sales, adjusted EBITDA, and adjusted earnings.The management was able to cope with executional pressures well and worked hard to push organic net sales to grow by 3% on a two-year compounded annual growth basis.Campbell's Ready-to-Serve in-market consumption grew impressively by 21% on a two-year basis and is expected to be a strong growth driver.

Campbell Soup Company - Investment Thesis

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

In this report we outline important technical levels to watch for U.S. indexes and highlight several negative developments which lead us to a more cautious outlook. We also highlight attractive Groups and stocks within the Consumer Staples and Materials Sectors

In this report we outline important technical levels to watch for U.S. indexes and highlight several negative developments which lead us to a more cautious outlook. We also highlight attractive Groups and stocks within the Consumer Staples and Materials Sectors 

U.S. Equity Strategy: Outlook Deteriorating; Upgrading Staples

Key Points:<ul>
<li>The Staples Sector is leadership and many names are staging price and RS reversals.</li>
<li>REIT’s are breaking above bases and are showing RS leadership.</li>
<li>Paper &amp; Forest products are strengthening and many are reversing price and RS downtrend or breaking above bases.</li>
<li>Large-Cap Pharma stocks are showing leadership. Many have broken topside of multi-year consolidations or have reversed multi-year price and RS downtrends.</li>
</ul><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/059/921/original/Untitled.png?1533586859" class="editor-image img-responsive" data-smartkarma-image-id="59921"></figure>

Key Points:
The Staples Sector is leadership and many names are staging price and RS reversals.
REIT’s are breaking above bases and are showing RS leadership.
Paper &amp; Forest products are strengthening and many are reversing price and RS downtrend or breaking above bases.
Large-Cap Pharma stocks are showing leadership. Many have broken topside of multi-year consolidations or have reversed multi-year price and RS downtrends.


Founder and Strategist, Entext Economics & Strategy

Sean Maher

Founder and Strategist

Entext Economics & Strategy

Entext provides institutional investors with distinctive, actionable asset allocation and thematic research, which typically challenges the market consensus. Our clients range from credit, equity and multi-asset hedge and pension funds to family offices and sovereign funds. 
 
We focus on identifying key inflection points in macro data and relative asset performance amid the 'groupthink'  and confirmation bias that characterizes most investment bank analysis.

Macro Driven Investment Insight

Macroeconomics

<ul>
<li>My view in the 17th May note that the ‘bond vigilantes’ would be unleashed on Italy has transpired even faster than I expected with the 10-year yield now almost 40bps above US Treasuries.</li>
<li>A full blown constitutional crisis risks taking EMU into territory last seen in 2012 – Italian bond investors may be capitulating, but euro bulls haven’t yet – my long DXY bet has paid off.</li>
<li>Italy has underperformed Japan in productivity and GDP per capita trends – the populists are right that boosting nominal…</li>
</ul>


My view in the 17th May note that the ‘bond vigilantes’ would be unleashed on Italy has transpired even faster than I expected with the 10-year yield now almost 40bps above US Treasuries.
A full blown constitutional crisis risks taking EMU into territory last seen in 2012 – Italian bond investors may be capitulating, but euro bulls haven’t yet – my long DXY bet has paid off.
Italy has underperformed Japan in productivity and GDP per capita trends – the populists are right that boosting nominal…


Italian Chaos Jolts Markets, US Trip Notes…

United States

Campbell Soup Company, with its subsidiaries, manufactures and markets branded convenience food products.  The Company's core divisions include soups and sauces, biscuits and confectionery, and foodservice.  Campbell's distributes its products worldwide.

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Campbell Soup Co (CPB US)

Campbell Soup: Detailed Credit Analysis & Financial Strength Evaluation Report

Campbell Soup has been combatting inflationary pressures and supply chain constraints but has managed to report a fairly decent financial...

Baptista Research

Campbell Soup Company - Investment Thesis

Like most other food companies, Campbell Soup continues to struggle with inflationary pressure but it did manage to deliver a decent set of...

Baptista Research

U.S. Equity Strategy: Outlook Deteriorating; Upgrading Staples

In this report we outline important technical levels to watch for U.S. indexes and highlight several negative developments which lead us to a more...

Vermilion Research

U.S. Vital Signs: Actionable Stocks

Key Points: The Staples Sector is leadership and many names are staging price and RS reversals. REIT’s are breaking above bases and are showing RS...

Vermilion Research

Italian Chaos Jolts Markets, US Trip Notes…

My view in the 17th May note that the ‘bond vigilantes’ would be unleashed on Italy has transpired even faster than I expected with the 10-year...

Sean Maher

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