IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

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<li>
<a href="https://www.smartkarma.com/entities/amer-sports-inc" target="_blank" data-smartkarma-citation="entities:21751:1" rel="noopener">Amer Sports (AS US)</a> is a global iconic sports and outdoor brand group. According to press reports, it has filed for a NYSE IPO to raise US$2 billion.</li>
<li>In 2019, a consortium of <a href="https://www.smartkarma.com/entities/anta-sports-products-ltd" target="_blank" data-smartkarma-citation="entities:10261:1" rel="noopener">Anta Sports Products (2020 HK)</a>, FountainVest, Anamered Investments and <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent (700 HK)</a> acquired Amer at an EV of €5.5 billion.  </li>
<li>The bull case rests on the rapid growth and gross margin improvement under the consortium's ownership, along with technical apparel and outdoor performance’s improving revenue and margin profile. </li>
</ul>



Amer Sports (AS US) is a global iconic sports and outdoor brand group. According to press reports, it has filed for a NYSE IPO to raise US$2 billion.
In 2019, a consortium of Anta Sports Products (2020 HK), FountainVest, Anamered Investments and Tencent (700 HK) acquired Amer at an EV of €5.5 billion.  
The bull case rests on the rapid growth and gross margin improvement under the consortium's ownership, along with technical apparel and outdoor performance’s improving revenue and margin profile. 


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

Columbia Sportswear Co / Equity Bottom-Up

<ul><li>Columbia Sportswear Company delivered an all-around beat in the most recent quarterly result.</li><li>Columbia Sportswear's expectations were essentially met as the gross margin increased by 140 basis points.</li><li>In the quarter, net sales for the Columbia brand grew 11%.</li></ul>

Columbia Sportswear Company delivered an all-around beat in the most recent quarterly result.Columbia Sportswear's expectations were essentially met as the gross margin increased by 140 basis points.In the quarter, net sales for the Columbia brand grew 11%.

Columbia Sportswear: Navigating Through DTC Struggles & Seasonal Sales Shifts! - Major Drivers

<ul><li>Columbia Sportswear delivered a mixed set of results in its most recent result with revenues above Wall Street expectations but below-par earnings.</li><li>The company had a healthy net sales growth, with an 8% increase year-over-year and a 10% increase in constant currency.</li><li>We give Columbia Sportswear Company a 'Hold' rating with a revised target price.</li></ul>

Columbia Sportswear delivered a mixed set of results in its most recent result with revenues above Wall Street expectations but below-par earnings.The company had a healthy net sales growth, with an 8% increase year-over-year and a 10% increase in constant currency.We give Columbia Sportswear Company a 'Hold' rating with a revised target price.

Columbia Sportswear Company: An Ambitious Strategy for Navigating Uncertainties and Emerging Stronger in the Market! – Key Drivers

<ul><li>Columbia Sportswear delivered a mixed set of third-quarter results as it failed to meet the revenue expectations of Wall Street given the economic, geopolitical, and supply chain challenges.</li><li>Consumer challenges are being solved by innovations like Omni-Heat Infinity and the recently unveiled Omni-Heat Helix.</li><li>The patent-pending Omni-Heat Helix from Columbia uses highly effective insulation cells to optimize warmth while ensuring breathability.</li></ul>

Columbia Sportswear delivered a mixed set of third-quarter results as it failed to meet the revenue expectations of Wall Street given the economic, geopolitical, and supply chain challenges.Consumer challenges are being solved by innovations like Omni-Heat Infinity and the recently unveiled Omni-Heat Helix.The patent-pending Omni-Heat Helix from Columbia uses highly effective insulation cells to optimize warmth while ensuring breathability.

Columbia Sportswear: Key Drivers, Financial Forecasts, DCF & Comparables Valuation, Risks (01/23)

<ul><li>Columbia Sportswear is on track to build its brand backed by differentiated innovation, outdoor heritage, and value proposition and position itself uniquely for capitalizing on the approval of outdoor activities.</li><li>The company delivered mixed quarter results, failing to meet the revenue expectations of Wall Street but delivering an earnings beat.</li><li>In the quarter, Product, Mountain Hardwear, Columbia, and SOREL net sales everything surged.</li></ul>

Columbia Sportswear is on track to build its brand backed by differentiated innovation, outdoor heritage, and value proposition and position itself uniquely for capitalizing on the approval of outdoor activities.The company delivered mixed quarter results, failing to meet the revenue expectations of Wall Street but delivering an earnings beat.In the quarter, Product, Mountain Hardwear, Columbia, and SOREL net sales everything surged.

Columbia Sportswear: Expansion In Indian Market & Other Drivers

United States

Columbia Sportswear Company designs, manufactures, markets, and distributes active outdoor apparel.  The Company's products include outerwear, sportswear, rugged footwear, and related accessories.  Columbia's products are sold to specialty and department store retailers in the United States and other countries.

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Columbia Sportswear Co (COLM US)

Amer Sports IPO: The Bull Case

The bull case rests on the rapid growth and gross margin improvement under the consortium's ownership, along with technical apparel and outdoor...

Arun George

Columbia Sportswear: Navigating Through DTC Struggles & Seasonal Sales Shifts! - Major Drivers

Columbia Sportswear Company delivered an all-around beat in the most recent quarterly result. Columbia Sportswear's expectations were essentially...

Baptista Research

Columbia Sportswear Company: An Ambitious Strategy for Navigating Uncertainties and Emerging Stronger in the Market! – Key Drivers

Columbia Sportswear delivered a mixed set of results in its most recent result with revenues above Wall Street expectations but below-par...

Baptista Research

Columbia Sportswear: Key Drivers, Financial Forecasts, DCF & Comparables Valuation, Risks (01/23)

Columbia Sportswear delivered a mixed set of third-quarter results as it failed to meet the revenue expectations of Wall Street given the...

Baptista Research

Columbia Sportswear: Expansion In Indian Market & Other Drivers

Columbia Sportswear is on track to build its brand backed by differentiated innovation, outdoor heritage, and value proposition and position...

Baptista Research

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