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>General Dynamics delivered a positive result and managed an all-around beat in the last quarter.</li>
<li>General Dynamics had a revenue increase across Defense segments and a modest increase in Aerospace.</li>
<li>The revenue increase came from international vehicle programs at European Land Systems and Land Systems.</li>
</ul>


General Dynamics delivered a positive result and managed an all-around beat in the last quarter.
General Dynamics had a revenue increase across Defense segments and a modest increase in Aerospace.
The revenue increase came from international vehicle programs at European Land Systems and Land Systems.


General Dynamics Corporation: Is The Bombardier Collaboration A Real Game Changer? – Key Drivers

Managing Partner, VRS (Valuation & Research Specialists)

VRS (Valuation & Research Specialists)

Managing Partner

Valuation & Research Specialists (VRS) is a boutique financial advisor with more than 17 years of experience in Corporate Valuation and Finance, and a diversified client base including some of the largest Companies in Greece.

Since 2002, VRS has completed more than 200 engagements in the areas of business valuation and financial analysis for more than 100 clients in a wide range of industries.

VRS has been honored to work with small and large private and publicly traded companies in Europe and overseas.

Boutique Financial Advisor

Thematic (Sector/Industry)

<ul>
<li>In Econote No. 110 ( Nov.Dec 2022) we broached the topic of investing in the Defence sectors of various West and Asian economies.</li>
<li>The reasons for this were very simple: First, the war in the Ukraine resulted to a sharp rise in defence spending in western countries and, second, this rise would not cease with the end of the war but presented a pivot to higher defence spending, not only in western countries, but also in areas such as Asia.</li>
<li>Hence the outlook for Defence stocks was, and is very bright, as witnessed by their persistent outperformance of the S&amp;P 500 and still reasonable valuations.</li>
</ul>


In Econote No. 110 ( Nov.Dec 2022) we broached the topic of investing in the Defence sectors of various West and Asian economies.
The reasons for this were very simple: First, the war in the Ukraine resulted to a sharp rise in defence spending in western countries and, second, this rise would not cease with the end of the war but presented a pivot to higher defence spending, not only in western countries, but also in areas such as Asia.
Hence the outlook for Defence stocks was, and is very bright, as witnessed by their persistent outperformance of the S&amp;P 500 and still reasonable valuations.


Ecognosis Advisory Ltd - ECONOTE No. 111 Investing in the Defence Sector

HK/China Equity Long-Short

Osbert Tang, CFA

AviChina Industry & Technology H / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/avichina-industry-technology-h" target="_blank" data-smartkarma-citation="entities:16315:1" rel="noopener">AviChina Industry &amp; Technology H (2357 HK)</a> offers unique exposure to China's aerospace and defense sector and it will ride on China's ambition to solidify its military strengths. </li>
<li>We think the key drivers are increase in civil and defense demand, commercialisation of C919 aircraft, localisation of helicopters and potential for corporate restructuring.</li>
<li>The stock is undervalued with its holdings in four listed A-shares amounted to Rmb70.6bn, against its own market cap of HK$25bn. Also, earnings multiples are cheap relative to global peers.</li>
</ul>



AviChina Industry &amp; Technology H (2357 HK) offers unique exposure to China's aerospace and defense sector and it will ride on China's ambition to solidify its military strengths. 
We think the key drivers are increase in civil and defense demand, commercialisation of C919 aircraft, localisation of helicopters and potential for corporate restructuring.
The stock is undervalued with its holdings in four listed A-shares amounted to Rmb70.6bn, against its own market cap of HK$25bn. Also, earnings multiples are cheap relative to global peers.


2023 High Conviction: AviChina Industry (2357 HK) - The Sky Is the Limit

Credit

<ul><li>General Dynamics is a major aerospace and defense company with exposure to commercial aerospace.<li></li>The company started 2022 on a positive note and managed to deliver a decent top-line and bottom-line performance.<li></li>In terms of the performance of its new product, the G600 and G500 continue to perform quite well and General Dynamics also enjoys increases in DDG-51 and TAO construction volumes.</li></ul>

General Dynamics is a major aerospace and defense company with exposure to commercial aerospace.The company started 2022 on a positive note and managed to deliver a decent top-line and bottom-line performance.In terms of the performance of its new product, the G600 and G500 continue to perform quite well and General Dynamics also enjoys increases in DDG-51 and TAO construction volumes.

General Dynamics Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

<ul><li>This is our first report on the aerospace and defense giant, General Dynamics.<li></li>The company started 2022 on a positive note and managed to deliver an all-around beat in its most recent quarterly results.<li></li>In terms of the performance of its new product, the G600 and G500 continue to perform quite well and General Dynamics also enjoys increases in DDG-51 and TAO construction volumes.</li></ul>

This is our first report on the aerospace and defense giant, General Dynamics.The company started 2022 on a positive note and managed to deliver an all-around beat in its most recent quarterly results.In terms of the performance of its new product, the G600 and G500 continue to perform quite well and General Dynamics also enjoys increases in DDG-51 and TAO construction volumes.

General Dynamics Corporation: Initiation of Coverage – Business Strategy

United States

General Dynamics Corporation is a diversified defense company. The Company offers a broad portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; shipbuilding design and construction; and information systems, technologies and services.

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General Dynamics (GD US)

General Dynamics Corporation: Is The Bombardier Collaboration A Real Game Changer? – Key Drivers

General Dynamics delivered a positive result and managed an all-around beat in the last quarter. General Dynamics had a revenue increase across...

Baptista Research

Ecognosis Advisory Ltd - ECONOTE No. 111 Investing in the Defence Sector

In Econote No. 110 ( Nov.Dec 2022) we broached the topic of investing in the Defence sectors of various West and Asian economies.

VRS (Valuation & Research Specialists)

2023 High Conviction: AviChina Industry (2357 HK) - The Sky Is the Limit

AviChina is cheap against global peers and key drivers are increase in civil and defense demand, commercialisation of C919 aircraft, localisation...

Osbert Tang, CFA

General Dynamics Corporation: Detailed Credit Analysis & Financial Strength Evaluation Report

General Dynamics is a major aerospace and defense company with exposure to commercial aerospace. The company started 2022 on a positive note and...

Baptista Research

General Dynamics Corporation: Initiation of Coverage – Business Strategy

This is our first report on the aerospace and defense giant, General Dynamics. The company started 2022 on a positive note and managed to deliver...

Baptista Research

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