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>CSX Corporation's performance in the second quarter was largely disappointing with revenues below par and earnings in line with expectations.</li><li>The only silver lining was the successful performance of its merchandise sector.</li><li>In the second quarter, CSX moved more than 1.5 million carloads, driven by a 3% volume increase in merchandise and a 4% volume increase in coal.</li></ul>

CSX Corporation's performance in the second quarter was largely disappointing with revenues below par and earnings in line with expectations.The only silver lining was the successful performance of its merchandise sector.In the second quarter, CSX moved more than 1.5 million carloads, driven by a 3% volume increase in merchandise and a 4% volume increase in coal.

CSX Corporation: Major Factors Responsible For The Good Results! - Financial Forecasts

<ul><li>CSX Corporation achieved a successful first quarter, fueled by strong pricing and volume growth in its goods and coal businesses which resulted in an all-around beat.</li><li>While the company saw positive growth in automotive, customer production challenges hampered quarterly volumes.</li><li>Solid commodity prices are anticipated to support the global coal market in the near future, resulting in positive volume growth.</li></ul>

CSX Corporation achieved a successful first quarter, fueled by strong pricing and volume growth in its goods and coal businesses which resulted in an all-around beat.While the company saw positive growth in automotive, customer production challenges hampered quarterly volumes.Solid commodity prices are anticipated to support the global coal market in the near future, resulting in positive volume growth.

CSX Corporation: Impressive Network Performance & Savings Drivers

Credit

<ul><li>CSX Corporation is one of the largest providers of rail-based freight transportation services in the United States.</li><li>The company’s services include not only traditional rail service and transport of intermodal containers and trailers but also rail-to-truck transfers and bulk commodity operations.</li><li>Their competitive advantages should encourage more CSX rail shipping from their clients, but they still need to concentrate on making this happen.</li></ul>

CSX Corporation is one of the largest providers of rail-based freight transportation services in the United States.The company’s services include not only traditional rail service and transport of intermodal containers and trailers but also rail-to-truck transfers and bulk commodity operations.Their competitive advantages should encourage more CSX rail shipping from their clients, but they still need to concentrate on making this happen.

CSX Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

<ul><li>This is our first report on CSX, one of the largest providers of rail-based freight transportation services in the United States.</li><li>Their competitive advantages should encourage more CSX rail shipping from their clients, but they still need to concentrate on making this happen.</li><li>We also have a dedicated analysis of the company's Environmental, Social, and Governance (ESG) risk scores in order to evaluate the sustainability risk.</li></ul>

This is our first report on CSX, one of the largest providers of rail-based freight transportation services in the United States.Their competitive advantages should encourage more CSX rail shipping from their clients, but they still need to concentrate on making this happen.We also have a dedicated analysis of the company's Environmental, Social, and Governance (ESG) risk scores in order to evaluate the sustainability risk.

CSX Corporation: Initiation of Coverage – Business Strategy & Other Drivers

AlphaSituations-Event/Catalyst Driven Research, AlphaSituations

Robert Sassoon

AlphaSituations-Event/Catalyst Driven Research

AlphaSituations

Since its establishment, AlphaSituations has delivered a track record of outperformance with a hit rate of winners of more than 70% of its portfolio of ideas generating annualized average returns of 20%. In January 2022, AlphaSituations was contracted by Water Tower Research, an investor engagement and stakeholder communication platform to provide coverage of Special Situations

Event-Driven

The first major railroad merger transaction in North America in more than two decades has developed into a bidding war between the two major Canadian railroad operators - <a href="https://www.smartkarma.com/entities/canadian-national-railway-co" target="_blank" data-smartkarma-citation="entities:24515:1" rel="noopener">Canadian National Railway Co (CNI US)</a> and <a href="https://www.smartkarma.com/entities/canadian-pacific-railway-ltd" target="_blank" data-smartkarma-citation="entities:24519:1" rel="noopener">Canadian Pacific Railway (CP US)</a> - battling for <a href="https://www.smartkarma.com/entities/kansas-city-southern" target="_blank" data-smartkarma-citation="entities:6157:1" rel="noopener">Kansas City Southern (KSU US)</a> as each look to exploit more fully the benefits of last year's inked USCMA.In our insight published on April 26, 2021 -MergerTalk: Kansas City Southern-Will Can National Derail Canadian Pacific's USCMA Strategy? - written prior to the termination by KSU's merger agreement with CP in favor of CNI, we suggested that should such a circumstance unfold (which it did), it would be unlikely that CP would sheepishly  give up on  its merger ambitions for which it has strongly argued the strategic value of its combination with KSU. despite its inferior financial firepower when compared with that of CNI.Following CP's raised counterbid, this follow-up insight considers what might happen next in this intriguing battle for a key North American railroad.

The first major railroad merger transaction in North America in more than two decades has developed into a bidding war between the two major Canadian railroad operators - Canadian National Railway Co (CNI US) and Canadian Pacific Railway (CP US) - battling for Kansas City Southern (KSU US) as each look to exploit more fully the benefits of last year's inked USCMA.In our insight published on April 26, 2021 -MergerTalk: Kansas City Southern-Will Can National Derail Canadian Pacific's USCMA Strategy? - written prior to the termination by KSU's merger agreement with CP in favor of CNI, we suggested that should such a circumstance unfold (which it did), it would be unlikely that CP would sheepishly  give up on  its merger ambitions for which it has strongly argued the strategic value of its combination with KSU. despite its inferior financial firepower when compared with that of CNI.Following CP's raised counterbid, this follow-up insight considers what might happen next in this intriguing battle for a key North American railroad. 

MergerTalk:Battle For Kansas-Will Canadian National Derail Canadian Pacific’s USCMA Strategy? Part 2

United States

CSX Corporation is an international freight transportation company.  The Company provides rail, intermodal, domestic container-shipping, barging, and contract logistics services around the world.  CSX's rail transportation services are provided principally throughout the eastern United States.

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Csx Corp (CSX US)

CSX Corporation: Major Factors Responsible For The Good Results! - Financial Forecasts

CSX Corporation's performance in the second quarter was largely disappointing with revenues below par and earnings in line with expectations. The...

Baptista Research

CSX Corporation: Impressive Network Performance & Savings Drivers

CSX Corporation achieved a successful first quarter, fueled by strong pricing and volume growth in its goods and coal businesses which resulted in...

Baptista Research

CSX Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

CSX Corporation is one of the largest providers of rail-based freight transportation services in the United States. The company’s services include...

Baptista Research

CSX Corporation: Initiation of Coverage – Business Strategy & Other Drivers

This is our first report on CSX, one of the largest providers of rail-based freight transportation services in the United States. Their...

Baptista Research

MergerTalk:Battle For Kansas-Will Canadian National Derail Canadian Pacific’s USCMA Strategy? Part 2

This situation has been largely played out for the arbs. However, this may be more of a story for long-term investors as a unique USCMA play.

Robert Sassoon

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