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>Guess?, Inc. reported first-quarter fiscal 2026 results that surpassed internal expectations on several financial metrics, aided significantly by the full-quarter contribution from its recent rag & bone acquisition and growth in its wholesale channels across Europe and the Americas.</li><li>Total revenues increased 9% in U.S. dollars to $648 million, or 12% on a constant currency basis, primarily driven by rag & bone, which added nine points of constant currency growth compared to a single month in the prior year.</li><li>The core Guess?</li></ul>

Guess?, Inc. reported first-quarter fiscal 2026 results that surpassed internal expectations on several financial metrics, aided significantly by the full-quarter contribution from its recent rag & bone acquisition and growth in its wholesale channels across Europe and the Americas.Total revenues increased 9% in U.S. dollars to $648 million, or 12% on a constant currency basis, primarily driven by rag & bone, which added nine points of constant currency growth compared to a single month in the prior year.The core Guess?

Guess? Inc: A 5.5% To 7.4% Growth Outlook Highlights Limited Expansion Visibility!

Equity Research Focusing on the Consumer Sector, Small Cap Consumer Research

Small Cap Consumer Research

Equity Research Focusing on the Consumer Sector

Small Cap Consumer Research, LLC is a leading company-sponsored equity research provider focusing on the consumer sector (apparel, brand licensing and specialty retailing segments).

<ul><li>We are reiterating our Buy rating and $45 price target for Lands’ End with the company announcing 1QFY26 (April) results before the open on Tuesday.</li><li> With the joint venture with WHP Global, which included the sale of a controlling interest in the Lands’ End intellectual property to WHP Global (and $300 million in gross proceeds to Lands’ End), closing on April 1st, the financial statements for Lands’ End will materially change.</li><li> As such, while we believe the core tenets of our LE investment thesis (higher returns, lower inventory, deeper focus as a lifestyle resource) are unchanged, our financial projections will be materially impacted (both positively and negatively).</li></ul>

We are reiterating our Buy rating and $45 price target for Lands’ End with the company announcing 1QFY26 (April) results before the open on Tuesday. With the joint venture with WHP Global, which included the sale of a controlling interest in the Lands’ End intellectual property to WHP Global (and $300 million in gross proceeds to Lands’ End), closing on April 1st, the financial statements for Lands’ End will materially change. As such, while we believe the core tenets of our LE investment thesis (higher returns, lower inventory, deeper focus as a lifestyle resource) are unchanged, our financial projections will be materially impacted (both positively and negatively).

LE: 1Q Earnings Preview: Entering a New World; Reiterating Buy, $45 PT

<ul><li>The recent financial performance of Guess?</li><li>Inc. presents a varied picture of the company's current standing and future strategies.</li><li>The company reported a 9% increase in total revenues during the first quarter of fiscal year 2026, reaching $648 million.</li></ul>

The recent financial performance of Guess?Inc. presents a varied picture of the company's current standing and future strategies.The company reported a 9% increase in total revenues during the first quarter of fiscal year 2026, reaching $648 million.

Guess and rag & bone—Why This Acquisition Is Becoming a Core Growth Engine!

<ul><li>We are dropping research coverage of GES after the company reported strong 3Q results (handily beating the Street in almost every level) but, more importantly, provided the final pieces to the merger puzzle timing and return.</li><li>With Guess?</li><li>disclosing the November 21st approval of the Merger Agreement at a special shareholder meeting and the issuance of a final $0.225 per GES share dividend to shareholders of record on December 10th, the management buyout with leading brand licensee Authentic Brands Group will provide GES shareholders with a confirmed final payment of $16.975 in cash per GES share ($16.75 for the merger and dividend of $0.225) a slight discount to Tuesday's closing price.</li></ul>

We are dropping research coverage of GES after the company reported strong 3Q results (handily beating the Street in almost every level) but, more importantly, provided the final pieces to the merger puzzle timing and return.With Guess?disclosing the November 21st approval of the Merger Agreement at a special shareholder meeting and the issuance of a final $0.225 per GES share dividend to shareholders of record on December 10th, the management buyout with leading brand licensee Authentic Brands Group will provide GES shareholders with a confirmed final payment of $16.975 in cash per GES share ($16.75 for the merger and dividend of $0.225) a slight discount to Tuesday's closing price.

GES: With Terms Fully Set, Time to Bow Out; Dropping Coverage of GES

<ul><li>We are reiterating our Hold rating and projections for Guess?</li><li>after visiting stores in the Metropolitan New York City and Long Island regions.</li><li>Guess?</li></ul>

We are reiterating our Hold rating and projections for Guess?after visiting stores in the Metropolitan New York City and Long Island regions.Guess?

GES: Snapping the Store: Building Up For Fall; Reiterate Hold

United States

Guess?, Inc. designs, markets, distributes, and licenses a collection of casual apparel, accessories, and related consumer products.  The Company's apparel for men, women, and girls are marketed under branded names.  Guess? provides full collections of denim and cotton clothing and has granted licenses to manufacture complementary products.

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Guess? Inc (GES US)

Guess? Inc: A 5.5% To 7.4% Growth Outlook Highlights Limited Expansion Visibility!

Guess?, Inc. reported first-quarter fiscal 2026 results that surpassed internal expectations on several financial metrics, aided significantly by...

Baptista Research

LE: 1Q Earnings Preview: Entering a New World; Reiterating Buy, $45 PT

We are reiterating our Buy rating and $45 price target for Lands’ End with the company announcing 1QFY26 (April) results before the open on...

Small Cap Consumer Research

Guess and rag & bone—Why This Acquisition Is Becoming a Core Growth Engine!

The recent financial performance of Guess? Inc. presents a varied picture of the company's current standing and future strategies. The company...

Baptista Research

GES: With Terms Fully Set, Time to Bow Out; Dropping Coverage of GES

We are dropping research coverage of GES after the company reported strong 3Q results (handily beating the Street in almost every level) but, more...

Small Cap Consumer Research

GES: Snapping the Store: Building Up For Fall; Reiterate Hold

We are reiterating our Hold rating and projections for Guess? after visiting stores in the Metropolitan New York City and Long Island...

Small Cap Consumer Research

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