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>In a major strategic pivot, DuPont de Nemours has announced a streamlined separation strategy that could significantly impact its operational focus and market positioning.</li><li>Initially planning a three-way split of its Water, Electronics, and Materials businesses, the company has revised its approach by deciding to retain the Water business while accelerating the spinoff of the Electronics division.</li><li>This decision underscores DuPont’s intent to simplify its structure and enhance shareholder value in a more agile manner.</li></ul>

In a major strategic pivot, DuPont de Nemours has announced a streamlined separation strategy that could significantly impact its operational focus and market positioning.Initially planning a three-way split of its Water, Electronics, and Materials businesses, the company has revised its approach by deciding to retain the Water business while accelerating the spinoff of the Electronics division.This decision underscores DuPont’s intent to simplify its structure and enhance shareholder value in a more agile manner.

DuPont's Separation 2.0: How a Two-Way Split Could Reshape Its Future!

<ul><li>DuPont delivered a strong set of results for the third quarter of 2024, showcasing resilience and growth amidst a mixed global economic environment.</li><li>The company reported consolidated net sales of $3.2 billion, marking organic sales growth of 3% compared to the same period last year, supported by a 5% increase in volume.</li><li>This was partially offset by a 2% decrease in price.</li></ul>

DuPont delivered a strong set of results for the third quarter of 2024, showcasing resilience and growth amidst a mixed global economic environment.The company reported consolidated net sales of $3.2 billion, marking organic sales growth of 3% compared to the same period last year, supported by a 5% increase in volume.This was partially offset by a 2% decrease in price.

DuPont’s Water Solutions Revival: A Game-Changing Surge in Global Demand! - Major Drivers

Equity Long-Short Analyst

Pyari Menon

Thematic (Sector/Industry)

<ul>
<li>Innovation data suggests that <a href="https://www.smartkarma.com/entities/bayer-ag" target="_blank" data-smartkarma-citation="entities:26881:1" rel="noopener">Bayer AG (BAYN GY)</a> has an almost monopoly stake in agriculture-related microbial, followed by <a href="https://www.smartkarma.com/entities/dupont-de-nemours-inc" target="_blank" data-smartkarma-citation="entities:9239:1" rel="noopener">DuPont (DD US)</a> </li>
<li>In non-ag microbial space <a href="https://www.smartkarma.com/entities/moderna-inc" target="_blank" data-smartkarma-citation="entities:28744:1" rel="noopener">Moderna Inc (MRNA US)</a>,  <a href="https://www.smartkarma.com/entities/codexis-inc" target="_blank" data-smartkarma-citation="entities:26400:1" rel="noopener">Codexis Inc (CDXS US)</a>,  <a href="https://www.smartkarma.com/entities/regeneron-pharmaceuticals" target="_blank" data-smartkarma-citation="entities:9167:1" rel="noopener">Regeneron Pharmaceuticals (REGN US),</a><a href="https://www.smartkarma.com/entities/immatics-nv" target="_blank" data-smartkarma-citation="entities:33092:1" rel="noopener">Immatics NV (IMTX US)</a> lead the field</li>
<li>In the nascent area of bacteriophages which could be a game-changer to fight against antibiotic-resistant bacteria BOEHRINGER INGELHEIM, <a href="https://www.smartkarma.com/entities/johnson-johnson" target="_blank" data-smartkarma-citation="entities:1132:1" rel="noopener">Johnson &amp; Johnson (JNJ US)</a>, and <a href="https://www.smartkarma.com/entities/pfizer-inc" target="_blank" data-smartkarma-citation="entities:1131:1" rel="noopener">Pfizer Inc (PFE US) </a>lead</li>
</ul>


Innovation data suggests that Bayer AG (BAYN GY) has an almost monopoly stake in agriculture-related microbial, followed by DuPont (DD US) 
In non-ag microbial space Moderna Inc (MRNA US),  Codexis Inc (CDXS US),  Regeneron Pharmaceuticals (REGN US),Immatics NV (IMTX US) lead the field
In the nascent area of bacteriophages which could be a game-changer to fight against antibiotic-resistant bacteria BOEHRINGER INGELHEIM, Johnson &amp; Johnson (JNJ US), and Pfizer Inc (PFE US) lead


Insights from Data Mining Technical Publications - Microbes - Bacteriophages

Asian Hedge Fund Manager, Long Short Equity, Macro

David Mudd

Cross Asset Strategy

<ul>
<li>Japan has intentionally stepped into the middle of the geopolitical battle between the U.S. and China with Prime Minister Takaichi's policy-changing Taiwan comments to Japan's parliament.</li>
<li>China's retaliation has been swift and tactical, issuing travel warnings, high-level diplomatic reprimands, and conducting military exercises near the Senkaku Islands.  China has promised a continuing substantial and broad-based response.</li>
<li>We expect China's response to include rare earth export and Japanese trade restrictions and targeted boycotts of Japanese goods on the mainland.</li>
</ul>


Japan has intentionally stepped into the middle of the geopolitical battle between the U.S. and China with Prime Minister Takaichi's policy-changing Taiwan comments to Japan's parliament.
China's retaliation has been swift and tactical, issuing travel warnings, high-level diplomatic reprimands, and conducting military exercises near the Senkaku Islands.  China has promised a continuing substantial and broad-based response.
We expect China's response to include rare earth export and Japanese trade restrictions and targeted boycotts of Japanese goods on the mainland.


Japan Picks a Fight with China!! What Happens Now?

Founder at Stock Spin-off Investing, Stock Spin-Off Investing

Richard Howe

Founder at Stock Spin-off Investing

Stock Spin-Off Investing

Generate attractive returns by taking advantage of inefficiencies in the stock spin-off market.

Stock Spin-offs

Event-Driven

<ul>
<li>
<a href="https://stockspinoffinvesting.us12.list-manage.com/track/click?u=7d7fc84ad2ad141d71def9000&amp;id=debc564f67&amp;e=b00018bf49" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://stockspinoffinvesting.us12.list-manage.com/track/click?u%3D7d7fc84ad2ad141d71def9000%26id%3Ddebc564f67%26e%3Db00018bf49&amp;source=gmail&amp;ust=1760771322282000&amp;usg=AOvVaw3DeaOtxlJ4neZ-QIUggC7E" rel="noopener">Honeywell spinoff Solstice to continue M&amp;A playbook post separation: </a>Spin-offs that are active in M&amp;A tend to perform well. This is a positive.</li>
<li>
<a href="https://stockspinoffinvesting.us12.list-manage.com/track/click?u=7d7fc84ad2ad141d71def9000&amp;id=4290c69c25&amp;e=b00018bf49" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://stockspinoffinvesting.us12.list-manage.com/track/click?u%3D7d7fc84ad2ad141d71def9000%26id%3D4290c69c25%26e%3Db00018bf49&amp;source=gmail&amp;ust=1760771322282000&amp;usg=AOvVaw2fg8MfsHusd93t4vGVBNXk" rel="noopener">Top Golf VIC Write Up: </a>Good write up breaking down the demerger arbitrage opportunity</li>
<li><a href="https://stockspinoffinvesting.us12.list-manage.com/track/click?u=7d7fc84ad2ad141d71def9000&amp;id=b24f99c7bb&amp;e=b00018bf49" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://stockspinoffinvesting.us12.list-manage.com/track/click?u%3D7d7fc84ad2ad141d71def9000%26id%3Db24f99c7bb%26e%3Db00018bf49&amp;source=gmail&amp;ust=1760771322282000&amp;usg=AOvVaw1OePG7SN6ZHI9vDUradhdi" rel="noopener">WSJ: The Years Buzziest Deals are Corporate Breakups</a></li>
</ul>



Honeywell spinoff Solstice to continue M&amp;A playbook post separation: Spin-offs that are active in M&amp;A tend to perform well. This is a positive.

Top Golf VIC Write Up: Good write up breaking down the demerger arbitrage opportunity
WSJ: The Years Buzziest Deals are Corporate Breakups


Q3 '25 Spin-off Round Up + Spin-off Calendar

United States

DuPont de Nemours, Inc. operates as a chemical company. The Company offers elastomeric photopolymer printing plates, structural and elastic adhesives, fluids, reinforcing composites, foams, coatings, rubber and elastomers, topical ingredients, food ingredients, animal nutrition, biomaterials, water purification technologies, and fibers.

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DuPont (DD US)

DuPont's Separation 2.0: How a Two-Way Split Could Reshape Its Future!

In a major strategic pivot, DuPont de Nemours has announced a streamlined separation strategy that could significantly impact its operational...

Baptista Research

DuPont’s Water Solutions Revival: A Game-Changing Surge in Global Demand! - Major Drivers

DuPont delivered a strong set of results for the third quarter of 2024, showcasing resilience and growth amidst a mixed global economic...

Baptista Research

Insights from Data Mining Technical Publications - Microbes - Bacteriophages

Innovations are modifying and harnessing microbes for new uses in agriculture, industry, and as potential new therapeutics to replace or...

Pyari Menon

Japan Picks a Fight with China!! What Happens Now?

Japan is deploying missiles to an island near Taiwan in an escalation of its increased militarism toward China since the PM election last month....

David Mudd

Q3 '25 Spin-off Round Up + Spin-off Calendar

Honeywell spinoff Solstice to continue M&A playbook post separation: Spin-offs that are active in M&A tend to perform well. This is a...

Richard Howe

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