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>EQT Corporation delivered strong results in the first quarter of 2025, emphasizing its strategic approach to maximizing value amid price volatility.</li><li>The company reported robust production at the high end of its guidance, aided by effective well performance and minimal winter disruptions.</li><li>Tactics like increasing production during highdemand winter periods allowed EQT to benefit from favorable Appalachian pricing, significantly boosting its core differential.</li></ul>

EQT Corporation delivered strong results in the first quarter of 2025, emphasizing its strategic approach to maximizing value amid price volatility.The company reported robust production at the high end of its guidance, aided by effective well performance and minimal winter disruptions.Tactics like increasing production during highdemand winter periods allowed EQT to benefit from favorable Appalachian pricing, significantly boosting its core differential.

EQT Corporation: Can Its Olympus Midstream & Strategic Integration Enhance Overall Market Competitiveness?

<ul><li>EQT Corporation showcased a transformational year in 2024 characterized by significant strategic and operational advancements.</li><li>A key highlight was the successful acquisition and integration of Equitrans, positioning EQT as America’s only large-scale integrated natural gas company.</li><li>The integration process is nearly complete with 90% of synergies realized to date, surpassing expectations.</li></ul>

EQT Corporation showcased a transformational year in 2024 characterized by significant strategic and operational advancements.A key highlight was the successful acquisition and integration of Equitrans, positioning EQT as America’s only large-scale integrated natural gas company.The integration process is nearly complete with 90% of synergies realized to date, surpassing expectations.

EQT Corporation: An Insight Into Its Market Dynamics and Commodity Price Outlook!

<ul><li>EQT Corporation recently reported its third-quarter earnings for 2024, providing key insights into the significant strategies and results that have shaped its operations.</li><li>Toby Rice, President and CEO, and Jeremy Knop, CFO of EQT Corporation, detailed the impacts and outlook following their strategic acquisition of Equitrans Midstream.</li><li>This acquisition marks a pivotal transformation into a vertically-integrated natural gas business in America, aiming to solidify EQT’s unique position at the forefront of energy efficiency and cost-effectiveness.</li></ul>

EQT Corporation recently reported its third-quarter earnings for 2024, providing key insights into the significant strategies and results that have shaped its operations.Toby Rice, President and CEO, and Jeremy Knop, CFO of EQT Corporation, detailed the impacts and outlook following their strategic acquisition of Equitrans Midstream.This acquisition marks a pivotal transformation into a vertically-integrated natural gas business in America, aiming to solidify EQT’s unique position at the forefront of energy efficiency and cost-effectiveness.

EQT Corporation: Initiation Of Coverage - An Insight Into Their Curtailed Production Strategy and Market Responsiveness! - Major Drivers

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

<ul>
<li>In last week's 2/25/25 Compass, we discussed our expectation for near-term downside as the S&amp;P 500 and Nasdaq 100 (QQQ) displayed several bearish short-term developments.</li>
<li>We said don't be surprised if there is a test of the bottom of the range at either 5770-5850 or 5600-5670, where we would be buyers</li>
<li>The S&amp;P 500 and Nasdaq 100 (QQQ) are testing major confluence of support at 5770-5850 and $490-$500, respectively, the first of our potential bottom levels discussed last week.</li>
</ul>


In last week's 2/25/25 Compass, we discussed our expectation for near-term downside as the S&amp;P 500 and Nasdaq 100 (QQQ) displayed several bearish short-term developments.
We said don't be surprised if there is a test of the bottom of the range at either 5770-5850 or 5600-5670, where we would be buyers
The S&amp;P 500 and Nasdaq 100 (QQQ) are testing major confluence of support at 5770-5850 and $490-$500, respectively, the first of our potential bottom levels discussed last week.


S&P 500 and Nasdaq 100 Testing Initial Support; Russell and Nasdaq With Bullish Breadth Divergences

<ul>
<li>Our outlook remains bullish following the S&amp;P 500's multi-month base breakout above 5670, alongside healthy market dynamics which have continued to improve.</li>
<li>Two weeks ago, our election day report (11/5/24) was titled "Buy the Pullback," and with the SPX/QQQ/IWM pulling back to their 20-day MAs, it's time to buy the pullback <em>again</em>.</li>
<li>We continue to expect significant upside into year-end and early 2025, and we expect support at the 20-day MAs on the aforementioned indexes (though support at 50-day MAs is possible).</li>
</ul>


Our outlook remains bullish following the S&amp;P 500's multi-month base breakout above 5670, alongside healthy market dynamics which have continued to improve.
Two weeks ago, our election day report (11/5/24) was titled "Buy the Pullback," and with the SPX/QQQ/IWM pulling back to their 20-day MAs, it's time to buy the pullback again.
We continue to expect significant upside into year-end and early 2025, and we expect support at the 20-day MAs on the aforementioned indexes (though support at 50-day MAs is possible).


Buy the Pullback Again; S&P 500, Nasdaq 100, Russell 2000 Testing Confluence of Support

United States

EQT Corporation is an integrated energy company with emphasis on Appalachian area natural-gas supply, transmission and distribution. The Company, through its subsidiaries, offer natural gas products to wholesale and retail customers.

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Eqt Corp (EQT US)

EQT Corporation: Can Its Olympus Midstream & Strategic Integration Enhance Overall Market Competitiveness?

EQT Corporation delivered strong results in the first quarter of 2025, emphasizing its strategic approach to maximizing value amid price...

Baptista Research

EQT Corporation: An Insight Into Its Market Dynamics and Commodity Price Outlook!

EQT Corporation showcased a transformational year in 2024 characterized by significant strategic and operational advancements. A key highlight was...

Baptista Research

EQT Corporation: Initiation Of Coverage - An Insight Into Their Curtailed Production Strategy and Market Responsiveness! - Major Drivers

EQT Corporation recently reported its third-quarter earnings for 2024, providing key insights into the significant strategies and results that...

Baptista Research

S&P 500 and Nasdaq 100 Testing Initial Support; Russell and Nasdaq With Bullish Breadth Divergences

$SPX and $QQQ $NDX Testing Initial Supports at 5770-5850 and $490-$500; Russell 2000 $IWM and Nasdaq 100 Bullish Breadth Divergences (% above 20-...

Vermilion Research

Buy the Pullback Again; S&P 500, Nasdaq 100, Russell 2000 Testing Confluence of Support

Buy the Pullback Again, Same as Our Election Day Report; S&P 500 $SPX, Nasdaq 100 $QQQ, Russell 2000 $IWM Testing Confluence of Support at 20-day...

Vermilion Research

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