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>Deere & Company's earnings revealed a company operating well in the midst of an increasingly competitive market landscape, with stable demand across the majority of sectors.</li><li>The firm noted solid execution across the cycle with an 18.5% margin for equipment operations in the first quarter.</li><li>Land sales fell by 4% to $12.658 billion while equipment operations also dropped 8% to $10.486 billion.</li></ul>

Deere & Company's earnings revealed a company operating well in the midst of an increasingly competitive market landscape, with stable demand across the majority of sectors.The firm noted solid execution across the cycle with an 18.5% margin for equipment operations in the first quarter.Land sales fell by 4% to $12.658 billion while equipment operations also dropped 8% to $10.486 billion.

Deere & Co: Expansion In Precision Agriculture & 5 Other Factors Driving Growth In 2024! - Major Drivers

<ul><li>Deere & Co delivered an all-around beat in the previous quarter, with operating margins nearly reaching 22%, resulting in an impressive operating cash flow of nearly $12 billion.</li><li>This success was attributed to robust market demand, effective operational execution, and improved production costs across the various business sectors.</li><li>In small ag and turf, net sales in the fourth quarter were down 13%, totaling $3.094 billion, driven by lower shipment volumes.</li></ul>

Deere & Co delivered an all-around beat in the previous quarter, with operating margins nearly reaching 22%, resulting in an impressive operating cash flow of nearly $12 billion.This success was attributed to robust market demand, effective operational execution, and improved production costs across the various business sectors.In small ag and turf, net sales in the fourth quarter were down 13%, totaling $3.094 billion, driven by lower shipment volumes.

Deere & Company: Pricing Strategy & Market Positioning & Other Major Drivers

<ul><li>Deere & Company delivered a solid result and managed an all-around beat in the last quarter.</li><li>Deere & Company demonstrated resilience amid healthy agricultural fundamentals, maintaining a whole order book and positive customer sentiment that drove a solid close to fiscal year 2023.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Deere & Company delivered a solid result and managed an all-around beat in the last quarter.Deere & Company demonstrated resilience amid healthy agricultural fundamentals, maintaining a whole order book and positive customer sentiment that drove a solid close to fiscal year 2023.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Deere & Company: Can The Smart Apply Acquisition Prove To Be A Real Growth Catalyst? - Major Drivers

Equity Capital Markets

<ul><li>Deere managed to exceed analyst expectations in terms of revenue as well as earnings.</li><li>Revenues and net sales were up and price realization was positive.</li><li>Deere viewed production and precision ag net revenue to rise.</li></ul>

Deere managed to exceed analyst expectations in terms of revenue as well as earnings.Revenues and net sales were up and price realization was positive.Deere viewed production and precision ag net revenue to rise.

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

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.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cimc-vehicles-group-co-ltd" target="_blank" data-smartkarma-citation="entities:28012:1" rel="noopener">CIMC Vehicle Group Co Ltd (1839 HK)</a> announced the H Share buyback offer, excluding CIMC’s shares, is at HK$7.50, a 16.5% premium to the undisturbed price. The offer is final.</li>
<li>The key condition is approval by at least 75% of independent H Shareholders (&lt;10% of all independent H Shareholders rejection) along with a 90% minimum acceptance condition.  </li>
<li>Excluding the irrevocables, the 90% threshold requires an independent H Shareholder acceptance rate of 77.7%, which could be challenging due to a light offer. Risk/reward unfavourable. </li>
</ul>



CIMC Vehicle Group Co Ltd (1839 HK) announced the H Share buyback offer, excluding CIMC’s shares, is at HK$7.50, a 16.5% premium to the undisturbed price. The offer is final.
The key condition is approval by at least 75% of independent H Shareholders (&lt;10% of all independent H Shareholders rejection) along with a 90% minimum acceptance condition.  
Excluding the irrevocables, the 90% threshold requires an independent H Shareholder acceptance rate of 77.7%, which could be challenging due to a light offer. Risk/reward unfavourable. 


CIMC Vehicles (1839 HK): Min Acceptance Condition a Risk for the Final HK$7.50 Offer

United States

Deere & Company manufactures and distributes a range of agricultural, construction and forestry, and commercial and consumer equipment.  The Company supplies replacement parts for its own products and for those of other manufacturers. Deere also provides product and parts financing services. Deere and Company extends its services and products worldwide.

Deere & Co (DE US)

Deere & Co: Expansion In Precision Agriculture & 5 Other Factors Driving Growth In 2024! - Major Drivers

Deere & Company's earnings revealed a company operating well in the midst of an increasingly competitive market landscape, with stable demand...

Baptista Research

Deere & Company: Pricing Strategy & Market Positioning & Other Major Drivers

Deere & Co delivered an all-around beat in the previous quarter, with operating margins nearly reaching 22%, resulting in an impressive...

Baptista Research

Deere & Company: Can The Smart Apply Acquisition Prove To Be A Real Growth Catalyst? - Major Drivers

Deere & Company delivered a solid result and managed an all-around beat in the last quarter. Deere & Company demonstrated resilience amid...

Baptista Research

Deere & Company: Healthy Demand

Deere managed to exceed analyst expectations in terms of revenue as well as earnings. Revenues and net sales were up and price realization was...

Baptista Research

CIMC Vehicles (1839 HK): Min Acceptance Condition a Risk for the Final HK$7.50 Offer

The 90% min acceptance condition is a key risk in the context of a light offer. Risk/reward is unfavourable as the downside (9.9% to undisturbed...

Arun George