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>Gartner's second-quarter 2024 earnings demonstrated resilience and financial strength amidst a fluctuating global environment, marked by diverse challenges impacting different sectors.</li><li>The company reported robust growth in contract values and significant increases in profitability and free cash flow.</li><li>The company's core research segment, which is pivotal to its revenue stream, showed sustainable growth, with contract values growing by approximately 10% among enterprise function leaders.</li></ul>

Gartner's second-quarter 2024 earnings demonstrated resilience and financial strength amidst a fluctuating global environment, marked by diverse challenges impacting different sectors.The company reported robust growth in contract values and significant increases in profitability and free cash flow.The company's core research segment, which is pivotal to its revenue stream, showed sustainable growth, with contract values growing by approximately 10% among enterprise function leaders.

Gartner Inc.: Leveraging Technology and Responding to Emerging Opportunities! - Major Drivers

<ul><li>In Q1 2024, Gartner delivered strong profitability and free cash flow, which both surpassed expectations, leading the company to increase its guidance for the year.</li><li>The company proved its resilience in what's described as a "complex environment", with contract value growth in the high single digits.</li><li>However, there remain several challenges to face.</li></ul>

In Q1 2024, Gartner delivered strong profitability and free cash flow, which both surpassed expectations, leading the company to increase its guidance for the year.The company proved its resilience in what's described as a "complex environment", with contract value growth in the high single digits.However, there remain several challenges to face.

Gartner Inc.:  Increasing Interest In Artificial Intelligence (AI) & Its Expected Impact On The Top-Line! - Major Drivers

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

<ul><li>Technically, the SET Index is expected to move sideways down, with the support at 1,356/1,348 points and the resistance at 1,375/1,382 points (25-day EMA).</li><li>TISCO reported a net profit of Bt1,733mn, lower than projection of the Bloomberg consensus and down 3.3% YoY and 2.6% QoQ due to the slowdown in non-interest income and higher funding costs.</li><li>We recommend stocks with positive news: SAPPE, ICHI, and TKN.</li></ul>

Technically, the SET Index is expected to move sideways down, with the support at 1,356/1,348 points and the resistance at 1,375/1,382 points (25-day EMA).TISCO reported a net profit of Bt1,733mn, lower than projection of the Bloomberg consensus and down 3.3% YoY and 2.6% QoQ due to the slowdown in non-interest income and higher funding costs.We recommend stocks with positive news: SAPPE, ICHI, and TKN.

Index Rebalance

PTT Exploration & Production / Index Rebalance

<ul><li>The SET Index is expected to weaken, with the support at 1,388/1,380 points (50-day EMA/10-day EMA) and the resistance at 1,400/1,405 points.</li><li>As for the big technical picture, there is a positive sign for the index, with the potential to move up to test the resistance at 1,405/1,416 points after yesterday managing to surpass the key resistance at 1,388 points for the first day.</li><li>However, today the index is at risk of falling to test the support at the 50-day EMA again, given that foreign investors may return to being net sellers owing to the impact of the FTSE Index rebalancing (four Thai stocks have been removed from the large cap list, and five have been removed from the small cap list).</li></ul>

The SET Index is expected to weaken, with the support at 1,388/1,380 points (50-day EMA/10-day EMA) and the resistance at 1,400/1,405 points.As for the big technical picture, there is a positive sign for the index, with the potential to move up to test the resistance at 1,405/1,416 points after yesterday managing to surpass the key resistance at 1,388 points for the first day.However, today the index is at risk of falling to test the support at the 50-day EMA again, given that foreign investors may return to being net sellers owing to the impact of the FTSE Index rebalancing (four Thai stocks have been removed from the large cap list, and five have been removed from the small cap list).

Keep a Close Watch on the FTSE Rebalancing

<ul><li>Gartner announced positive results in the fourth quarter of 2023 and offered insights on future prospects.</li><li>In terms of performance, Gartner demonstrated high single-digit growth in contract value during Q4, with revenue, EBITDA, adjusted EPS, and free cash flow surpassing expectations.</li><li>Notably, the company weathered several disruptions in 2023 owing to macroeconomic conditions.</li></ul>

Gartner announced positive results in the fourth quarter of 2023 and offered insights on future prospects.In terms of performance, Gartner demonstrated high single-digit growth in contract value during Q4, with revenue, EBITDA, adjusted EPS, and free cash flow surpassing expectations.Notably, the company weathered several disruptions in 2023 owing to macroeconomic conditions.

Gartner Inc: Is The Enterprise New Business Growth Catalyzing Growth? - Major Drivers

United States

Gartner, Inc. provides research and analysis on the computer hardware, software, communications, and related information technology industries.  The Company's business segments include research, consulting, measurement, events and executive programs.

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Gartner Inc (IT US)

Gartner Inc.: Leveraging Technology and Responding to Emerging Opportunities! - Major Drivers

Gartner's second-quarter 2024 earnings demonstrated resilience and financial strength amidst a fluctuating global environment, marked by diverse...

Baptista Research

Gartner Inc.: Increasing Interest In Artificial Intelligence (AI) & Its Expected Impact On The Top-Line! - Major Drivers

In Q1 2024, Gartner delivered strong profitability and free cash flow, which both surpassed expectations, leading the company to increase its...

Baptista Research

1Q24E Corporate Earnings

Technically, the SET Index is expected to move sideways down, with the support at 1,356/1,348 points and the resistance at 1,375/1,382 points...

Krungthai XSpring

Keep a Close Watch on the FTSE Rebalancing

The SET Index is expected to weaken, with the support at 1,388/1,380 points (50-day EMA/10-day EMA) and the resistance at 1,400/1,405 points. As...

Krungthai XSpring

Gartner Inc: Is The Enterprise New Business Growth Catalyzing Growth? - Major Drivers

Gartner announced positive results in the fourth quarter of 2023 and offered insights on future prospects. In terms of performance, Gartner...

Baptista Research

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