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>Illinois Tool Works had a strong start to the year, with results beyond Wall Street expectations.</li><li>Because of this, they anticipate a favorable change in the cost margin effect starting in Q2.</li><li>Given these strong results, Illinois anticipates performing better than its competitors throughout the remainder of 2023.</li></ul>

Illinois Tool Works had a strong start to the year, with results beyond Wall Street expectations.Because of this, they anticipate a favorable change in the cost margin effect starting in Q2.Given these strong results, Illinois anticipates performing better than its competitors throughout the remainder of 2023.

Illinois Tool Works Inc.: The Margin Improvements Seem To Be Encouraging – Key Drivers

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Thematic (Sector/Industry)

<ul><li>When considering future investment opportunities, the renewable energy transition continues to be an exciting space to investors given its enormous potential total addressable market coupled with climate change legislation that is acting as a tailwind in virtually every G-20 country.</li><li>Almost every month, there continues to be a steady drumbeat of new rules issued locally and across the globe which results in faster timelines to transition to battery storage and other clean energy as well as tighter restrictions to ultimately phase out traditional gas powered transportation and coal power.</li><li>For example, while California has already passed rules requiring all new cars, pickup trucks and SUVs sold to be electric or hydrogen by 2035, California approved rules last week which will require all new medium heavy-duty truck and bus sales sold in the state in 2036 to be zero-emission</li></ul>

When considering future investment opportunities, the renewable energy transition continues to be an exciting space to investors given its enormous potential total addressable market coupled with climate change legislation that is acting as a tailwind in virtually every G-20 country.Almost every month, there continues to be a steady drumbeat of new rules issued locally and across the globe which results in faster timelines to transition to battery storage and other clean energy as well as tighter restrictions to ultimately phase out traditional gas powered transportation and coal power.For example, while California has already passed rules requiring all new cars, pickup trucks and SUVs sold to be electric or hydrogen by 2035, California approved rules last week which will require all new medium heavy-duty truck and bus sales sold in the state in 2036 to be zero-emission

<ul><li>Illinois Tool Works continues to face various challenges in this operating environment which is why it had a mixed financial performance in the last quarter of the year.</li><li>Automotive OEM revenues were up, and food equipment delivered a very strong quarter.</li><li>Welding delivery had quite a strong organic growth in the quarter, with a rise in equipment and consumables.</li></ul>

Illinois Tool Works continues to face various challenges in this operating environment which is why it had a mixed financial performance in the last quarter of the year.Automotive OEM revenues were up, and food equipment delivered a very strong quarter.Welding delivery had quite a strong organic growth in the quarter, with a rise in equipment and consumables.

Credit

<ul><li>Illinois Tool Works is an industrials major catering to a wide variety of end markets ranging from automotive to welding and construction projects.</li><li>The company’s financial performance has been decent despite the fact that the operating climate is still quite dynamic and challenging.</li><li>While the recent results were good, Illinois Tool Works is far from being immune to the potential macro problems and uncertainties ahead.</li></ul>

Illinois Tool Works is an industrials major catering to a wide variety of end markets ranging from automotive to welding and construction projects.The company’s financial performance has been decent despite the fact that the operating climate is still quite dynamic and challenging.While the recent results were good, Illinois Tool Works is far from being immune to the potential macro problems and uncertainties ahead.

Illinois Tool Works Inc.: Initiation of Coverage – Financial Forecasts

<ul><li>This is our first report on industrials giant, Illinois Tool Works.</li><li>The company achieved a 13% revenue increase on the top line, with 16% organic growth from its core businesses which is a good sign.</li><li>While the recent results were good, Illinois Tool Works is far from being immune to the potential macro problems and uncertainties ahead.</li></ul>

This is our first report on industrials giant, Illinois Tool Works.The company achieved a 13% revenue increase on the top line, with 16% organic growth from its core businesses which is a good sign.While the recent results were good, Illinois Tool Works is far from being immune to the potential macro problems and uncertainties ahead.

Illinois Tool Works Inc.: Initiation of Coverage – Diversified Business Lines & Other Drivers

United States

Illinois Tool Works Inc. designs and manufactures fasteners and components, equipment and consumable systems, and a variety of specialty products and equipment.  The Company's products include industrial fluids and adhesives, tooling for specialty applications, welding products, and quality measurement equipment and systems.  Illinois Tool Works operates worldwide.

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Illinois Tool Works (ITW US)

Illinois Tool Works Inc.: The Margin Improvements Seem To Be Encouraging – Key Drivers

Illinois Tool Works had a strong start to the year, with results beyond Wall Street expectations. Because of this, they anticipate a favorable...

Baptista Research

Weekly Stock Bullfinder - Week of 5/1

When considering future investment opportunities, the renewable energy transition continues to be an exciting space to investors given its enormous...

Weekly Stock Bull Finder

Illinois Tool Works Inc.: Major Drivers

Illinois Tool Works continues to face various challenges in this operating environment which is why it had a mixed financial performance in the...

Baptista Research

Illinois Tool Works Inc.: Initiation of Coverage – Financial Forecasts

Illinois Tool Works is an industrials major catering to a wide variety of end markets ranging from automotive to welding and construction...

Baptista Research

Illinois Tool Works Inc.: Initiation of Coverage – Diversified Business Lines & Other Drivers

This is our first report on industrials giant, Illinois Tool Works. The company achieved a 13% revenue increase on the top line, with 16% organic...

Baptista Research

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