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

Chipotle Mexican Grill / Equity Bottom-Up

<ul><li>Chipotle Mexican Grill delivered a mixed set of results.</li><li>In the quarter, Chipotle continues to view broadening trends by the income levels with the consumers with lower income reducing frequency.</li><li>We provide the stock of Chipotle Mexican Grill with a ‘Hold’ rating and a revision in the target price.</li></ul>

Chipotle Mexican Grill delivered a mixed set of results.In the quarter, Chipotle continues to view broadening trends by the income levels with the consumers with lower income reducing frequency.We provide the stock of Chipotle Mexican Grill with a ‘Hold’ rating and a revision in the target price.

Independent Research, US Dominant Players, Investment Talk

Investment Talk

Independent Research, US Dominant Players

Investment Talk is for readers who wish to learn about companies that are potentially outside of their own circle of research, as well as those who are longing to become part of a community of like-minded investors and learn more about investment research. I would describe myself as a long-term investor who typically takes a 3Y to 5Y outlook, before reassessing once that period matures. I follow the adage that one should research, reach a conclusion, and then verify and continue to hold so long as the thesis remains intact. My own investing style is one that seeks to find dominant players within their respective market who have shown signs of monopoly or oligopolistic behaviour, unlikely to be disrupted, in tandem with discovering market disruptors who have a high likelihood of disrupting their respective market. Equally (and weighted accordingly) I seek to discover more nuanced, misunderstood, situations with a shorter time frame.

Tortilla Mexican Grill / Equity Bottom-Up

<ul><li>Tortilla Mexican Grill is a small cap (market cap ~£48M) listed on the UK AIM exchange and is somewhat illiquid.</li><li>The chain boasts the largest portfolio of stores across the country in its subcategory, outranking its closest competitor by a factor of 5x.</li><li>As a recent IPO, and one that trades in a somewhat illiquid manner, I urge caution to those reading. These are merely my preliminary notes on the company.</li></ul>

Tortilla Mexican Grill is a small cap (market cap ~£48M) listed on the UK AIM exchange and is somewhat illiquid.The chain boasts the largest portfolio of stores across the country in its subcategory, outranking its closest competitor by a factor of 5x.As a recent IPO, and one that trades in a somewhat illiquid manner, I urge caution to those reading. These are merely my preliminary notes on the company.

<ul><li>Chipotle Mexican Grill has been in the news for an amazing rebound in its stock price after delivering a robust set of results surpassing Wall Street expectations in terms of earnings.</li><li>The in-restaurant sales increased while digital sales were also up and the management added 51 new restaurants in 42 locations.</li><li>We provide the stock of Chipotle Mexican Grill with a ‘Hold’ rating with a revision in the target price.</li></ul>

Chipotle Mexican Grill has been in the news for an amazing rebound in its stock price after delivering a robust set of results surpassing Wall Street expectations in terms of earnings.The in-restaurant sales increased while digital sales were also up and the management added 51 new restaurants in 42 locations.We provide the stock of Chipotle Mexican Grill with a ‘Hold’ rating with a revision in the target price.

Chipotle Mexican Grill Inc.: Expansion of the Loyalty Program & Other Developments

Equity Capital Markets

Chipotle Mexican Grill / Equity Capital Markets

<ul><li>Chipotle had a solid start to 2022 with a 16% jump in the top-line and a 26% jump in the earnings per share, continuing the strong momentum from 2021.</li><li>Of the 51 new stores opened during the first quarter of 2022, 42 were built with a Chipotlane, the company's renowned drive-through option.</li><li>We are neutral on Chipotle and give their stock a 'Hold' rating with a revised target price.</li></ul>

Chipotle had a solid start to 2022 with a 16% jump in the top-line and a 26% jump in the earnings per share, continuing the strong momentum from 2021.Of the 51 new stores opened during the first quarter of 2022, 42 were built with a Chipotlane, the company's renowned drive-through option.We are neutral on Chipotle and give their stock a 'Hold' rating with a revised target price.

Chipotle Mexican Grill Inc.: Financial & Price Forecasts

<ul><li>Chipotle had a fairly decent 2021 despite facing its fair share of challenges associated with the Omicron variant.</li><li>The management is continuing with the strategy of expanding its outlets and are significantly increasing the number of Chipotle restaurants in North America.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Chipotle had a fairly decent 2021 despite facing its fair share of challenges associated with the Omicron variant.The management is continuing with the strategy of expanding its outlets and are significantly increasing the number of Chipotle restaurants in North America.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Chipotle Mexican Grill: Financial & Price Forecasts

United States

Chipotle Mexican Grill, Inc. owns and operates quick serve Mexican restaurants. The Company manages restaurants throughout the United States.

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Chipotle Mexican Grill (CMG US)

Chipotle Mexican Grill: Major Drivers

Chipotle Mexican Grill delivered a mixed set of results. In the quarter, Chipotle continues to view broadening trends by the income levels with...

Baptista Research

MEX: Tortilla Mexican Grill

The chain boasts the largest portfolio of stores across the country in its subcategory, outranking its closest competitor by a factor of 5x.

Investment Talk

Chipotle Mexican Grill Inc.: Expansion of the Loyalty Program & Other Developments

Chipotle Mexican Grill has been in the news for an amazing rebound in its stock price after delivering a robust set of results surpassing Wall...

Baptista Research

Chipotle Mexican Grill Inc.: Financial & Price Forecasts

Chipotle had a solid start to 2022 with a 16% jump in the top-line and a 26% jump in the earnings per share, continuing the strong momentum from...

Baptista Research

Chipotle Mexican Grill: Financial & Price Forecasts

Chipotle had a fairly decent 2021 despite facing its fair share of challenges associated with the Omicron variant. The management is continuing...

Baptista Research

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