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 Capital Markets

<ul>
<li>Foot Locker's had another fantastic performance for the third quarter as they comped a good back-to-school season from last year, fought supply chain problems and delivered impressive bottom-line results.</li>
<li>They also completed the WSS acquisition during the quarter and, after the quarter-end, closed the Atmos transaction as well, bringing both of these great companies within the Foot Locker family of brands.</li>
<li>The company was recently in the news for the launch of its first proprietary womenswear brand, Cozi, that will be available globally and exclusively at Foot Locker and Champs Sports.</li>
</ul>


Foot Locker's had another fantastic performance for the third quarter as they comped a good back-to-school season from last year, fought supply chain problems and delivered impressive bottom-line results.
They also completed the WSS acquisition during the quarter and, after the quarter-end, closed the Atmos transaction as well, bringing both of these great companies within the Foot Locker family of brands.
The company was recently in the news for the launch of its first proprietary womenswear brand, Cozi, that will be available globally and exclusively at Foot Locker and Champs Sports.


Expert on Japan Retail and Consumer Markets, JapanConsuming

Michael Causton

Expert on Japan Retail and Consumer Markets

Real Insight on Japanese Consumer Markets

JapanConsuming

JapanConsuming is a specialist research firm producing intelligence on Japanese retail and consumer markets. Founded in 2000, JapanConsuming has become the leading provider of insights on Japanese retailers and consumer trends to retailers, brands, government agencies and investors. As well as a highly regarded monthly report on the market, JapanConsuming produces in-depth reports on retail sectors, seminars on key trends and telephone consulting to investors on trends and retailers.

JapanConsuming was founded by Michael Causton and Roy Larke. 

Event-Driven

<a href="https://www.smartkarma.com/entities/foot-locker-inc" target="_blank" data-smartkarma-citation="entities:10252:1" rel="noopener">Foot Locker Inc (FL US)</a> sees a major opportunity to expand in Asia but wants local expertise. It has acquired Text Trading, which runs Atmos, the small premium Japanese sneaker chain, as much for its founder as for the chain itself.

Foot Locker Inc (FL US) sees a major opportunity to expand in Asia but wants local expertise. It has acquired Text Trading, which runs Atmos, the small premium Japanese sneaker chain, as much for its founder as for the chain itself.

<ul>
<li>Foot Locker has experienced outstanding second-quarter results in 2021, showing excellent signs of recovery as well as deep customer engagement and strong vendor partnerships.</li>
<li>The company delivered a 6.9% comp gain on top of the 18.6% gain in the second quarter of 2020.</li>
<li>Overall, we are optimistic about Foot Locker, and we give the stock a 'Buy rating with a revised target price.</li>
</ul>


Foot Locker has experienced outstanding second-quarter results in 2021, showing excellent signs of recovery as well as deep customer engagement and strong vendor partnerships.
The company delivered a 6.9% comp gain on top of the 18.6% gain in the second quarter of 2020.
Overall, we are optimistic about Foot Locker, and we give the stock a 'Buy rating with a revised target price.


Equity Analyst, LightStream Research

Oshadhi Kumarasiri

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

It was reported by several news media outlets that the private equity firm Sycamore Partners Management LP has been in talks with <a href="https://www.smartkarma.com/entities/l-brands-inc" target="_blank" data-smartkarma-citation="entities:20339:1" rel="noopener">L Brands Inc (LB US)</a> regarding the purchase of the latter’s iconic lingerie brand Victoria's Secret (VS). Media reports suggest that it is almost a done deal and an announcement can be expected as early as tomorrow, 18th February 2020. In addition to acquiring VS, Sycamore Partners Management LP is also weighing a private investment in public equity deal (PIPE) to help L Brands reduce its debt burden.

It was reported by several news media outlets that the private equity firm Sycamore Partners Management LP has been in talks with L Brands Inc (LB US) regarding the purchase of the latter’s iconic lingerie brand Victoria's Secret (VS). Media reports suggest that it is almost a done deal and an announcement can be expected as early as tomorrow, 18th February 2020. In addition to acquiring VS, Sycamore Partners Management LP is also weighing a private investment in public equity deal (PIPE) to help L Brands reduce its debt burden.

L Brands: Sale of Victoria's Secret Helps Draw Attention to Bath & Body’s Success

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.

Equity Bottom-Up

Topsports International Holdings / Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/topsports-international" target="_blank" data-smartkarma-citation="entities:28153:1" rel="noopener">Topsports International (6110 HK)</a> is the sportswear division of Belle International. Topsports which IPOed on 10 October at HK$8.50 per share, reported its maiden interims last night. <div class="content-highlight">The interims continue to suggest that that Topsports’ fundamentals offer more positives than negatives. <a href="https://www.smartkarma.com/insights/topsports-international-trading-debut-valuation-scenario-analysis" target="_blank" rel="noopener">Our DCF-based price target of HK$9.97</a> implies around a 5% upside to the current share price of HK$9.51. Consequently, we would look to add to our position on any share price weakness.</div>

Topsports International (6110 HK) is the sportswear division of Belle International. Topsports which IPOed on 10 October at HK$8.50 per share, reported its maiden interims last night. The interims continue to suggest that that Topsports’ fundamentals offer more positives than negatives. Our DCF-based price target of HK$9.97 implies around a 5% upside to the current share price of HK$9.51. Consequently, we would look to add to our position on any share price weakness.

Topsports International: Interims in a Holding Pattern

United States

Foot Locker, Inc. is primarily a mall-based athletic retailer that operates athletic retail stores in countries located in North America, Europe, and Australia.  The Company provides athletic footwear and apparel through its Foot Locker, Lady Foot Locker, Kids Foot Locker, and Champs Sports retail stores. Foot Locker also operates a direct-to-consumer channel, Footlocker.com/Eastbay.

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Foot Locker Inc (FL US)

Foot Locker Inc. - Investment Thesis

Foot Locker's had another fantastic performance for the third quarter as they comped a good back-to-school season from last year, fought supply...

Baptista Research

Foot Locker Buys Atmos

Foot Locker has big plans in Asia and to secure a base has bought the renowned Japanese footwear retailer, Atmos – as much for its founder as for...

Michael Causton

Foot Locker Inc. - Investment Thesis

Foot Locker has experienced outstanding second-quarter results in 2021, showing excellent signs of recovery as well as deep customer engagement...

Baptista Research

L Brands: Sale of Victoria's Secret Helps Draw Attention to Bath & Body’s Success

It was reported by several news media outlets that the private equity firm Sycamore Partners Management LP has been in talks with L Brands Inc (LB...

Oshadhi Kumarasiri

Topsports International: Interims in a Holding Pattern

Topsports International (6110 HK) is the sportswear division of Belle International. Topsports which IPOed on 10 October at HK$8.50 per share,...

Arun George

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