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>Hubbell Incorporated reported strong financial results for the third quarter of 2025, with notable improvements in several key areas despite some segment-specific challenges.</li><li>Overall sales grew by 4% to approximately $1.5 billion, with operating profit also increasing by 4% to $358 million.</li><li>Adjusted earnings per share rose by 12%, supported by effective cost management measures and a favorable tax rate.</li></ul>

Hubbell Incorporated reported strong financial results for the third quarter of 2025, with notable improvements in several key areas despite some segment-specific challenges.Overall sales grew by 4% to approximately $1.5 billion, with operating profit also increasing by 4% to $358 million.Adjusted earnings per share rose by 12%, supported by effective cost management measures and a favorable tax rate.

Hubbell Incorporated: Grid Automation &Technological Integration for Longer-Term Growth

<ul><li>Hubbell Incorporated has been making headlines with a string of strong operational performances and strategic portfolio moves.</li><li>The company recently reported double-digit adjusted EPS growth in Q2 2025, supported by robust demand in grid infrastructure, sustained momentum in electrical solutions, and continued market tailwinds from grid modernization and electrification.</li><li>Now, Hubbell is set to add another piece to its growth puzzle: the $825 million all-cash acquisition of DMC Power, a provider of high-voltage connector technology for utility substation and transmission markets.</li></ul>

Hubbell Incorporated has been making headlines with a string of strong operational performances and strategic portfolio moves.The company recently reported double-digit adjusted EPS growth in Q2 2025, supported by robust demand in grid infrastructure, sustained momentum in electrical solutions, and continued market tailwinds from grid modernization and electrification.Now, Hubbell is set to add another piece to its growth puzzle: the $825 million all-cash acquisition of DMC Power, a provider of high-voltage connector technology for utility substation and transmission markets.

Hubbell’s $825 Million DMC Power Bet: Could This Acquisition Be A Game Changer?

<ul><li>Hubbell Incorporated's second quarter of 2025 financial results present a mixed picture, emphasizing the company's strategic adaptability amidst continuing macroeconomic and inflationary pressures.</li><li>The company reported a robust double-digit growth in adjusted earnings per share, driven by strong organic growth in its Grid Infrastructure and Electrical Solutions segments, accompanied by a notable year-over-year adjusted operating margin expansion of 120 basis points.</li><li>Despite inflationary challenges, the company effectively managed costs through strategic price hikes and productivity enhancements, aimed at achieving positive price/cost productivity for the year.</li></ul>

Hubbell Incorporated's second quarter of 2025 financial results present a mixed picture, emphasizing the company's strategic adaptability amidst continuing macroeconomic and inflationary pressures.The company reported a robust double-digit growth in adjusted earnings per share, driven by strong organic growth in its Grid Infrastructure and Electrical Solutions segments, accompanied by a notable year-over-year adjusted operating margin expansion of 120 basis points.Despite inflationary challenges, the company effectively managed costs through strategic price hikes and productivity enhancements, aimed at achieving positive price/cost productivity for the year.

Hubbell Incorporated: Capital Deployment & Strategic Acquisitions to Capture New Growth Opportunities In Rapidly Evolving Sectors!

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>Our bullish outlook (since early-November 2023) remains intact. Few things are more bullish than indexes (SPX, NDX) breaking out to all-time highs following a major correction we had in 2022</li>
<li>Last week (5/21/24) we discussed how it is a very bullish sign that there have been three upside gaps in May on the S&amp;P 500, with all gaps left unfilled.</li>
<li>Important short-term gap supports we are watching on SPX include 5250-5263, 5127-5142, and 5073-5101; so far 5250-5263 support has held. Also downgrading Industrials (XLI) to market weight</li>
</ul>


Our bullish outlook (since early-November 2023) remains intact. Few things are more bullish than indexes (SPX, NDX) breaking out to all-time highs following a major correction we had in 2022
Last week (5/21/24) we discussed how it is a very bullish sign that there have been three upside gaps in May on the S&amp;P 500, with all gaps left unfilled.
Important short-term gap supports we are watching on SPX include 5250-5263, 5127-5142, and 5073-5101; so far 5250-5263 support has held. Also downgrading Industrials (XLI) to market weight


Downgrading Manufacturing (XLI) To Market Weight; Shift to Overweight Growth; 5250-5263 SPX Holding

Dow Jones Industrial Average / Technical Analysis

<ul>
<li>The S&amp;P 500 has marginally surpassed the 4300-4325 area which we have anticipated would cap upside for 2023. </li>
<li>As noted in our 6/6/23 Compass, we are vigilant at these levels given we expect inflation to remain elevated, but we <em><strong>cannot be bearish</strong></em>if the SPX is above 4165-4200</li>
<li>Breadth has continued to improve within the Russell 2000, and the $IWM is approaching our first target of $190 following the breakout above $180. Also see breadth improving within SPX.</li>
</ul>


The S&amp;P 500 has marginally surpassed the 4300-4325 area which we have anticipated would cap upside for 2023. 
As noted in our 6/6/23 Compass, we are vigilant at these levels given we expect inflation to remain elevated, but we cannot be bearishif the SPX is above 4165-4200
Breadth has continued to improve within the Russell 2000, and the $IWM is approaching our first target of $190 following the breakout above $180. Also see breadth improving within SPX.


Dow Testing 1-Year Resistance at 34,280 Ahead of FOMC; Buy Ideas Within Manufacturing/Industrials

United States

Hubbell Incorporated manufactures electrical and electronic products for commercial, industrial, utility, and telecommunications markets.  The Company's products include plugs, receptacles, connectors, lighting fixtures, high voltage test and measurement equipment, and voice and data signal processing components. Hubbell operates in the United States and overseas.

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Hubbell Inc (HUBB US)

Hubbell Incorporated: Grid Automation &Technological Integration for Longer-Term Growth

Hubbell Incorporated reported strong financial results for the third quarter of 2025, with notable improvements in several key areas despite some...

Baptista Research

Hubbell’s $825 Million DMC Power Bet: Could This Acquisition Be A Game Changer?

Hubbell Incorporated has been making headlines with a string of strong operational performances and strategic portfolio moves. The company...

Baptista Research

Hubbell Incorporated: Capital Deployment & Strategic Acquisitions to Capture New Growth Opportunities In Rapidly Evolving Sectors!

Hubbell Incorporated's second quarter of 2025 financial results present a mixed picture, emphasizing the company's strategic adaptability amidst...

Baptista Research

Downgrading Manufacturing (XLI) To Market Weight; Shift to Overweight Growth; 5250-5263 SPX Holding

Downgrading Manufacturing $XLI to Market Weight; Shift to Overweight Growth $IWF; Three May $SPX Upside Gaps Unfilled = Bullish; Expect supports at...

Vermilion Research

Dow Testing 1-Year Resistance at 34,280 Ahead of FOMC; Buy Ideas Within Manufacturing/Industrials

Dow $DJI Testing 1-Year Resistance at 34,280 ahead of FOMC. Breadth continues to improve within the Russell 2000 $IWM, and breadth improving within...

Vermilion Research

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