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>Colgate entered 2023 on a positive note with decent top-line momentum and delivered an all-around beat in the last result.</li><li>The company saw good growth in organic sales in four categories which include double-digit growth in organic sales in Pet Nutrition.</li><li>Colgate, is launching the Optic White Pro Series and its new MPS whitening technology all over the world.</li></ul>

Colgate entered 2023 on a positive note with decent top-line momentum and delivered an all-around beat in the last result.The company saw good growth in organic sales in four categories which include double-digit growth in organic sales in Pet Nutrition.Colgate, is launching the Optic White Pro Series and its new MPS whitening technology all over the world.

Colgate-Palmolive Co: Improved Focus On Pet Nutrition & Whitening – Key Drivers

Value Investing

Vladimir Dimitrov, CFA

<ul>
<li>General Mills continues to perform exceptionally well relative to the broader equity market.</li>
<li>The ability to offset a record high input cost inflation highlights the importance of a strong brand portfolio in strategic areas.</li>
<li>As volumes return to positive territory, profitability in the pet food segment remains an area of concern, according to the company.</li>
</ul>


General Mills continues to perform exceptionally well relative to the broader equity market.
The ability to offset a record high input cost inflation highlights the importance of a strong brand portfolio in strategic areas.
As volumes return to positive territory, profitability in the pet food segment remains an area of concern, according to the company.


General Mills: Recent Quarterly Results Highlight Some Important Areas Of Progress

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Blue Jet Healthcare Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/blue-jet-healthcare-ltd" target="_blank" data-smartkarma-citation="entities:36373:1" rel="noopener">Blue Jet Healthcare Ltd (BJHC IN)</a>  is looking to raise about US$300m in its upcoming India IPO.</li>
<li>Blue Jet Healthcare (BJH) is a specialty pharmaceutical and healthcare ingredient and intermediate company, offering niche products targeted toward innovator pharmaceutical companies and multinational generic pharmaceutical companies. </li>
<li>In this note, we look at the company's past performance.</li>
</ul>



Blue Jet Healthcare Ltd (BJHC IN)  is looking to raise about US$300m in its upcoming India IPO.
Blue Jet Healthcare (BJH) is a specialty pharmaceutical and healthcare ingredient and intermediate company, offering niche products targeted toward innovator pharmaceutical companies and multinational generic pharmaceutical companies. 
In this note, we look at the company's past performance.


Blue Jet Healthcare Pre-IPO - Marquee Clients but Inconsistent Growth and Margins

<ul>
<li>Colgate's management seems to be making the right moves in pet food, but performance would need to improve in other segments as well.</li>
<li>Upside appears limited in the short-run and I will be looking for more evidence that management could deliver higher gross margins, I am cautiously optimistic that Colgate will deliver better results in 2023.</li>
<li>Performance of Colgate-Palmolive (<span class="ticker-hover-wrapper">NYSE:<a href="https://www.smartkarma.com/search?q=CL" target="_blank" rel="noopener">CL</a></span>) in recent years could hardly be described as success.</li>
</ul>


Colgate's management seems to be making the right moves in pet food, but performance would need to improve in other segments as well.
Upside appears limited in the short-run and I will be looking for more evidence that management could deliver higher gross margins, I am cautiously optimistic that Colgate will deliver better results in 2023.
Performance of Colgate-Palmolive (NYSE:CL) in recent years could hardly be described as success.


Colgate-Palmolive: Well-Positioned For The Future, But I Wouldn't Hold My Breath

Equity Long-Short Analyst

Pyari Menon

<ul>
<li>Economic slowdown, China lockdown and more competition has hit <a href="https://www.smartkarma.com/entities/align-technology-inc" target="_blank" data-smartkarma-citation="entities:2817:1" rel="noopener">Align Technology (ALGN US)</a> share performance. Quantity and quality of innovations suggests a solid moat that should help a comeback.</li>
<li>ALGN has dominant leadership in digital design and mass custom manufacture of clear aligner orthodontics. A return of demand should lead to strong upside. </li>
<li>Dentistry has seen significant new technologies we list the top fifteen innovators in the sector. Align is primarily in the narrow business of straightening teeth, but dominates the space.</li>
</ul>


Economic slowdown, China lockdown and more competition has hit Align Technology (ALGN US) share performance. Quantity and quality of innovations suggests a solid moat that should help a comeback.
ALGN has dominant leadership in digital design and mass custom manufacture of clear aligner orthodontics. A return of demand should lead to strong upside. 
Dentistry has seen significant new technologies we list the top fifteen innovators in the sector. Align is primarily in the narrow business of straightening teeth, but dominates the space.


Align Technology - Very Well Positioned when Demand Returns

United States

Colgate-Palmolive Company is a consumer products company that markets its products throughout the world.  The Company's products include toothpaste, toothbrushes, shampoos, deodorants, bar and liquid soaps, dishwashing liquid, and laundry products, as well as pet nutrition products for cats and dogs.

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Colgate Palmolive Co (CL US)

Colgate-Palmolive Co: Improved Focus On Pet Nutrition & Whitening – Key Drivers

Colgate entered 2023 on a positive note with decent top-line momentum and delivered an all-around beat in the last result. The company saw good...

Baptista Research

General Mills: Recent Quarterly Results Highlight Some Important Areas Of Progress

The ability to offset a record high input cost inflation highlights the importance of a strong brand portfolio in strategic areas.

Vladimir Dimitrov, CFA

Blue Jet Healthcare Pre-IPO - Marquee Clients but Inconsistent Growth and Margins

Blue Jet Healthcare Ltd (BJHC IN) is looking to raise about US$300m in its upcoming India IPO. In this note, we talk about the past performance.

Sumeet Singh

Colgate-Palmolive: Well-Positioned For The Future, But I Wouldn't Hold My Breath

Colgate's management seems to be making the right moves in pet food, but performance would need to improve in other segments as well.

Vladimir Dimitrov, CFA

Align Technology - Very Well Positioned when Demand Returns

Decline in earnings has driven the sell-off, but with patience and tolerance for volatility ALGN's innovation dominance should lead to good long...

Pyari Menon

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