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>Icahn Enterprises is moving toward the sale of Pep Boys to private-equity-backed Mavis Tire Express Services for approximately $700 million in cash, marking another significant step in the restructuring of Carl Icahn’s automotive holdings.</li><li>Under the proposed transaction, Mavis would acquire the Pep Boys operating business, while Icahn would retain certain real estate assets, AAMCO Transmissions, and Precision Tune Auto Care.</li><li>The structure matters because it allows Icahn to monetize a business purchased for roughly $1 billion in 2016 without surrendering every asset connected to the original investment.</li></ul>

Icahn Enterprises is moving toward the sale of Pep Boys to private-equity-backed Mavis Tire Express Services for approximately $700 million in cash, marking another significant step in the restructuring of Carl Icahn’s automotive holdings.Under the proposed transaction, Mavis would acquire the Pep Boys operating business, while Icahn would retain certain real estate assets, AAMCO Transmissions, and Precision Tune Auto Care.The structure matters because it allows Icahn to monetize a business purchased for roughly $1 billion in 2016 without surrendering every asset connected to the original investment.

Icahn Takeover Strategy: Mavis Targets Pep Boys For $700 Million!

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
 <li>Icahn Enterprises is a diversified holding company fundamentally driven by the activist investment strategy of its founder and majority owner, Carl Icahn. The firm's performance is intrinsically linked to the success of its activist campaigns and the operational results of its controlled subsidiaries in cyclical industries.</li>
 <li>The company is facing significant financial headwinds, characterized by a multi-year decline in market capitalization, revenue, and net income, leading to substantial dividend reductions. Recent performance shows persistent net losses and volatile cash flows, reflecting challenges across its core segments.</li>
 <li>Key risks for investors include a high degree of 'key-man' risk associated with Carl Icahn, a leveraged balance sheet, corporate governance concerns related to its Master Limited Partnership (MLP) structure and concentrated ownership, and exposure to volatile commodity and industrial markets.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  Icahn Enterprises is a diversified holding company fundamentally driven by the activist investment strategy of its founder and majority owner, Carl Icahn. The firm's performance is intrinsically linked to the success of its activist campaigns and the operational results of its controlled subsidiaries in cyclical industries.
  The company is facing significant financial headwinds, characterized by a multi-year decline in market capitalization, revenue, and net income, leading to substantial dividend reductions. Recent performance shows persistent net losses and volatile cash flows, reflecting challenges across its core segments.
  Key risks for investors include a high degree of 'key-man' risk associated with Carl Icahn, a leveraged balance sheet, corporate governance concerns related to its Master Limited Partnership (MLP) structure and concentrated ownership, and exposure to volatile commodity and industrial markets.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Icahn Enterprises LP (IEP US) - May 2026

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Forensic Accounting

<ul>
<li>Diving Deep into Hindenburg Research's comprehensive report on Temenos triggers a market plunge, alleging accounting manipulations, failed North American expansion, product failures, and troubled European deals.</li>
<li>Allegations include aggressive revenue recognition, excessive R&amp;D capitalization, difficulty in revenue collection, inflated free cash flow, and executive insiders stock divestment.</li>
<li>Temenos denies allegations, defending its business integrity, performance, and financial standing, but market volatility persists, emphasizing the need for transparent communication and governance reassurance.</li>
</ul>


Diving Deep into Hindenburg Research's comprehensive report on Temenos triggers a market plunge, alleging accounting manipulations, failed North American expansion, product failures, and troubled European deals.
Allegations include aggressive revenue recognition, excessive R&amp;D capitalization, difficulty in revenue collection, inflated free cash flow, and executive insiders stock divestment.
Temenos denies allegations, defending its business integrity, performance, and financial standing, but market volatility persists, emphasizing the need for transparent communication and governance reassurance.


Unveiling the Shadows: A Deep Dive into Hindenburg Research's Exposé on Temenos

Research Firm with a Qualitative Overlay, Pearl Gray Equity and Research

Pearl Gray Equity and Research

Research Firm with a Qualitative Overlay

Quantitative fund & research firm with a qualitative overlay. 

Our coverage: General U.S. with a skew towards the primary sector. 

Methods: Smart Beta/Factor Pricing, Neural Networks, Street Gossip, and Common Sense.

iShares High Yield Bond Factor ETF / Equity Bottom-Up

iShares High Yield Bond Factor ETF (HYDB US)

<ul><li>We might get a reasonable amount of flak for this article, as many investors <a href="https://www.reuters.com/markets/us/new-fed-research-flags-rising-risk-us-recession-2022-12-30/" target="_blank" rel="noopener">fear a recession</a>, and concurrently are staying away from high-yield bonds.</li><li>However, credit spreads are narrowing, and the equity market is receiving substantial support.</li><li>Thus, we believe the time is right to "risk it" on cyclical, high-yield corporate bonds with favorable interest rate sensitivity.</li></ul>

We might get a reasonable amount of flak for this article, as many investors fear a recession, and concurrently are staying away from high-yield bonds.However, credit spreads are narrowing, and the equity market is receiving substantial support.Thus, we believe the time is right to "risk it" on cyclical, high-yield corporate bonds with favorable interest rate sensitivity.

HYDB: Optimistically Backing High-Yield Corporate Bonds

United States

Icahn Enterprises L.P., a master limited partnership, is a diversified holding company engaged in nine primary business segments: Automotive, Investment, Energy, Gaming, Railcar, Food Packaging, Metals, Real Estate and Home Fashion.

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Icahn Enterprises LP (IEP US)

Icahn Takeover Strategy: Mavis Targets Pep Boys For $700 Million!

Icahn Enterprises is moving toward the sale of Pep Boys to private-equity-backed Mavis Tire Express Services for approximately $700 million in...

Baptista Research

Primer: Icahn Enterprises LP (IEP US) - May 2026

Icahn Enterprises is a diversified holding company fundamentally driven by the activist investment strategy of its founder and majority owner,...

αSK Primers

Unveiling the Shadows: A Deep Dive into Hindenburg Research's Exposé on Temenos

Reason behind 33% Fall in Temenos Share Price: A Deep Dive into Hindenburg Research's latest exposé on Temenos comprising of financial...

Nimish Maheshwari

HYDB: Optimistically Backing High-Yield Corporate Bonds

We might get a reasonable amount of flak for this article, as many investors fear a recession, and concurrently are staying away from high-yield...

Pearl Gray Equity and Research

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