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>Hershey delivered an all-around beat in its recent result, driven by timing impacts and strong international sales.</li><li>Hershey views this acquisition as a valuable investment that enhances resilience, flexibility, and overall efficiency in its production network.</li><li>The acquisition of Weaver grants Hershey greater control over the manufacturing process for SkinnyPop, a strategic category experiencing significant growth.</li></ul>

Hershey delivered an all-around beat in its recent result, driven by timing impacts and strong international sales.Hershey views this acquisition as a valuable investment that enhances resilience, flexibility, and overall efficiency in its production network.The acquisition of Weaver grants Hershey greater control over the manufacturing process for SkinnyPop, a strategic category experiencing significant growth.

The Hershey Company: Expansion Of SkinnyPop Through New Acquisition & Other Drivers

<ul><li>Hershey ended the year on a strong note despite macroeconomic uncertainty, continued supply chain disruptions, and inflation.</li><li>Consolidated net sales, organic, constant currency net sales, and reported net income increased and the company managed an all-around beat.</li><li>The growth in net sales was driven mainly by net price realization, with steady consumer demand behind increased capacity and higher advertising levels.</li></ul>

Hershey ended the year on a strong note despite macroeconomic uncertainty, continued supply chain disruptions, and inflation.Consolidated net sales, organic, constant currency net sales, and reported net income increased and the company managed an all-around beat.The growth in net sales was driven mainly by net price realization, with steady consumer demand behind increased capacity and higher advertising levels.

<ul><li>Hershey had a decent result and managed to deliver another all-around beat despite the impact of inflationary headwinds and supply chain issues.</li><li>The company managed to produce a substantial volume growth despite price increases to counter inflation.</li><li>The consumer continues to place a high priority on snacks, especially sweet sweets which is why the trends within their categories have really held strong.</li></ul>

Hershey had a decent result and managed to deliver another all-around beat despite the impact of inflationary headwinds and supply chain issues.The company managed to produce a substantial volume growth despite price increases to counter inflation.The consumer continues to place a high priority on snacks, especially sweet sweets which is why the trends within their categories have really held strong.

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 Compass (Aug. 23) we discussed the increasing odds for a deeper pullback in the broad market indexes.</li>
<li>This was due to 5-week uptrend breaks on the SPX, NDX, and Russell 2000, the Fed tightening, and with Treasury yields, the U.S. dollar (DXY), and commodities (DJP) inflecting higher.</li>
<li>The market remains in pullback mode; the SPX, NDX, and Russell 2000 are all approaching 50-day MA support, the first big area of interest on this pullback.</li>
</ul>


In last week's Compass (Aug. 23) we discussed the increasing odds for a deeper pullback in the broad market indexes.
This was due to 5-week uptrend breaks on the SPX, NDX, and Russell 2000, the Fed tightening, and with Treasury yields, the U.S. dollar (DXY), and commodities (DJP) inflecting higher.
The market remains in pullback mode; the SPX, NDX, and Russell 2000 are all approaching 50-day MA support, the first big area of interest on this pullback.


Headwinds Persist, Including Rising DXY, 10-Yr Treasury Yield, & Commodities; Buying Staples, Solar

<ul><li>Hershey had an outstanding quarter and surpassed Wall Street expectations in terms of revenues as well as earnings.</li><li>The second quarter experienced a very significant inventory replenishment.</li><li>The company continues to undergo its fair share of inflationary issues as well as struggles throughout the supply chain.</li></ul>

Hershey had an outstanding quarter and surpassed Wall Street expectations in terms of revenues as well as earnings.The second quarter experienced a very significant inventory replenishment.The company continues to undergo its fair share of inflationary issues as well as struggles throughout the supply chain.

United States

The Hershey Company manufactures chocolate and sugar confectionery products. The Company's principal products include chocolate and sugar confectionery products; gum and mint refreshment products; and pantry items, such as baking ingredients, toppings and beverages.

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Hershey Co/The (HSY US)

The Hershey Company: Expansion Of SkinnyPop Through New Acquisition & Other Drivers

Hershey delivered an all-around beat in its recent result, driven by timing impacts and strong international sales. Hershey views this acquisition...

Baptista Research

The Hershey Company: Major Drivers

Hershey ended the year on a strong note despite macroeconomic uncertainty, continued supply chain disruptions, and inflation. Consolidated net...

Baptista Research

Hershey Co: Major Drivers

Hershey had a decent result and managed to deliver another all-around beat despite the impact of inflationary headwinds and supply chain...

Baptista Research

Headwinds Persist, Including Rising DXY, 10-Yr Treasury Yield, & Commodities; Buying Staples, Solar

We still see the market as being in pullback mode; the $SPX, $QQQ $NDX, and $IWM $RUT are all testing 50-day MA support, the first big area of...

Vermilion Research

Hershey Co: Acquisition Success

Hershey had an outstanding quarter and surpassed Wall Street expectations in terms of revenues as well as earnings. The second quarter experienced...

Baptista Research

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