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>Ecolab delivered a mixed performance in the fourth quarter.</li><li>Organic sales increased by 12%, and sector-wise growth was strong but the company failed to meet the revenue expectations of Wall Street.</li><li>Healthcare & Life Sciences resumed growth and delivered 7% organic growth.</li></ul>

Ecolab delivered a mixed performance in the fourth quarter.Organic sales increased by 12%, and sector-wise growth was strong but the company failed to meet the revenue expectations of Wall Street.Healthcare & Life Sciences resumed growth and delivered 7% organic growth.

Ecolab Inc.: Collaboration With TotalEnergies & Other Drivers

Credit

<ul><li>Ecolab is a major provider of water, hygiene and infection prevention solutions and services.</li><li>The company has been benefitting from the recent price increases which has resulted in consistent double-digit organic sales growth in recent results.</li><li>They also invested in select breakthrough innovations to help customers save more water, energy, and cost, especially in Europe.</li></ul>

Ecolab is a major provider of water, hygiene and infection prevention solutions and services.The company has been benefitting from the recent price increases which has resulted in consistent double-digit organic sales growth in recent results.They also invested in select breakthrough innovations to help customers save more water, energy, and cost, especially in Europe.

Ecolab Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

<ul><li>This is our first report on Ecolab, a major provider of water, hygiene and infection prevention solutions and services.</li><li>The company delivered a below-par result with revenues just about meeting Wall Street expectations on account of the price increases.</li><li>The company saw overall pricing increasing from 9% to 12% and consistent double-digit organic sales growth of 13%.</li></ul>

This is our first report on Ecolab, a major provider of water, hygiene and infection prevention solutions and services.The company delivered a below-par result with revenues just about meeting Wall Street expectations on account of the price increases.The company saw overall pricing increasing from 9% to 12% and consistent double-digit organic sales growth of 13%.

Ecolab Inc.: Initiation of Coverage – Business Model & Key Drivers

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>S&amp;P DJI commenced a market consultation for the S&amp;P Global Water Index on 29 July and that could lead to quite a few changes to the index in October.</li>
<li>We currently see 14 deletions and 10 inclusions for the index in October. Most of the changes will have a high impact from passive fund trading.</li>
<li>There could be more changes in April 2023 once stocks listed in Emerging Markets are included in the index.</li>
</ul>


S&amp;P DJI commenced a market consultation for the S&amp;P Global Water Index on 29 July and that could lead to quite a few changes to the index in October.
We currently see 14 deletions and 10 inclusions for the index in October. Most of the changes will have a high impact from passive fund trading.
There could be more changes in April 2023 once stocks listed in Emerging Markets are included in the index.


S&P Global Water Index: Market Consultation Driven Potential Changes

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>Our base case continues to be for near-term consolidation while the market determines the implications of states’ reopening (i.e., the “wait-and-see” phase). Until this consolidation period resolves below support or above resistance we are maintaining a relatively neutral stance considering the wide range of outcomes. Many major indexes are testing logical resistance and until we see breakouts it is hard to get too bullish. In this report we highlight attractive stocks from a RS perspective.</p>

Our base case continues to be for near-term consolidation while the market determines the implications of states’ reopening (i.e., the “wait-and-see” phase). Until this consolidation period resolves below support or above resistance we are maintaining a relatively neutral stance considering the wide range of outcomes. Many major indexes are testing logical resistance and until we see breakouts it is hard to get too bullish. In this report we highlight attractive stocks from a RS perspective.

U.S. Equity Strategy: Round Trip Back To Resistance

United States

Ecolab Inc. is a global provider of water, hygiene, and energy technologies and services for customers in foodservice, food processing, hospitality, healthcare, industrial, and oil and gas markets. The Company's services include water treatments, cleaning and sanitizing solutions, pest elimination, and kitchen repair and maintenance services.

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Ecolab Inc (ECL US)

Ecolab Inc.: Collaboration With TotalEnergies & Other Drivers

Ecolab delivered a mixed performance in the fourth quarter. Organic sales increased by 12%, and sector-wise growth was strong but the company...

Baptista Research

Ecolab Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

Ecolab is a major provider of water, hygiene and infection prevention solutions and services. The company has been benefitting from the recent...

Baptista Research

Ecolab Inc.: Initiation of Coverage – Business Model & Key Drivers

This is our first report on Ecolab, a major provider of water, hygiene and infection prevention solutions and services. The company delivered a...

Baptista Research

S&P Global Water Index: Market Consultation Driven Potential Changes

S&P DJI's market consultation for the S&P Global Water Index could lead to quite a few changes to the index in October. There are a few potential...

Brian Freitas

U.S. Equity Strategy: Round Trip Back To Resistance

Our base case continues to be for near-term consolidation while the market determines the implications of states’ reopening (i.e., the...

Vermilion Research

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