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>Lear Corporation's first-quarter 2025 performance presents a mixed bag of achievements and challenges, as it navigates the complexities of the current automotive industry landscape.</li><li>The company's revenue for the quarter stood at $5.6 billion, with core operating earnings reaching $270 million, yielding a total operating margin of 4.9%.</li><li>This demonstrates improvement toward their targeted run rate despite a challenging production environment, indicating effective execution of strategic priorities across the business units.</li></ul>

Lear Corporation's first-quarter 2025 performance presents a mixed bag of achievements and challenges, as it navigates the complexities of the current automotive industry landscape.The company's revenue for the quarter stood at $5.6 billion, with core operating earnings reaching $270 million, yielding a total operating margin of 4.9%.This demonstrates improvement toward their targeted run rate despite a challenging production environment, indicating effective execution of strategic priorities across the business units.

Lear Corporation: Market Adaptation & Share Strategy to Enhance Its Regional & Global Footprint!

<ul><li>Lear Corporation, a global leader in automotive seating and electrical systems, reported third-quarter earnings for the year 2024, demonstrating resilience despite a challenging production environment marked by widespread industry production declines.</li><li>The company generated revenue of $5.6 billion, a modest decrease from the previous year, attributed to lower production volumes on Lear platforms, which was partly offset by the addition of new business in both of its key business segments, Seating and E-Systems.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Lear Corporation, a global leader in automotive seating and electrical systems, reported third-quarter earnings for the year 2024, demonstrating resilience despite a challenging production environment marked by widespread industry production declines.The company generated revenue of $5.6 billion, a modest decrease from the previous year, attributed to lower production volumes on Lear platforms, which was partly offset by the addition of new business in both of its key business segments, Seating and E-Systems.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Lear Corporation: Geographical Expansion & Local Partnerships in China To Catalyze Growth! - Major Drivers

<ul><li>Lear Corporation delivered its second quarter 2024 earnings with several noteworthy elements that merit evaluation for a balanced investment thesis.</li><li>On the positive front, the company continued to demonstrate robust revenue generation with over $6 billion recorded this quarter.</li><li>Growth across both its key segments—E-Systems and Seating—exceeded broader market growth rates, showcasing Lear's strong competitive positioning.</li></ul>

Lear Corporation delivered its second quarter 2024 earnings with several noteworthy elements that merit evaluation for a balanced investment thesis.On the positive front, the company continued to demonstrate robust revenue generation with over $6 billion recorded this quarter.Growth across both its key segments—E-Systems and Seating—exceeded broader market growth rates, showcasing Lear's strong competitive positioning.

Lear Corporation: Expansion in China and Emerging Markets Catalyzing Top-Line Growth! - Major Drivers

Cross-Asset Strategist & Quantitative Analyst, Pennock Idea Hub

Cam Hui

Cross-Asset Strategist & Quantitative Analyst

Pennock Idea Hub

We are creators of independent equity research. The Pennock Idea Hub team are veterans of the investment industry. Much of our team has spent their careers at Merrill Lynch, Deutsche Bank, RBC Capital Markets and Wood Gundy. We have taken every aspect of research back to the studs and returned to first principles. The Pennock Idea Hub marries the interests of the sell and buy side. 

We offer the best research for institutional investors by:

-Only publishing research from veteran analysts
-Eliminate the inherent conflicts of the traditional sell and buy side relationship
-Ensure our team is always accessible; collaboration with clients nurtures our collective success

Cross-Asset & Quantitative Research

Cross Asset Strategy

<ul>
<li>The stock market is likely to advance during the Santa Claus rally window, which began on December 24 and ends January 3.</li>
<li>But the rally is attributed to an oversold bounce and marked by narrow leadership. Either the rebound fizzles in January or broadens into lagging issues.</li>
<li>We identified selected contrarian value opportunities for bulls among Santa’s discards for potential outperformance into January and beyond.</li>
</ul>


The stock market is likely to advance during the Santa Claus rally window, which began on December 24 and ends January 3.
But the rally is attributed to an oversold bounce and marked by narrow leadership. Either the rebound fizzles in January or broadens into lagging issues.
We identified selected contrarian value opportunities for bulls among Santa’s discards for potential outperformance into January and beyond.


Contrarian Bargains Among Santa's Discards

Founder at Stock Spin-off Investing, Stock Spin-Off Investing

Richard Howe

Founder at Stock Spin-off Investing

Stock Spin-Off Investing

Generate attractive returns by taking advantage of inefficiencies in the stock spin-off market.

Stock Spin-offs

Event-Driven

<ul>
<li>
There were no new spin-off announcements this week, but I’ve done some more work on the Aptiv (APTV) spin-off announcement.
</li>
<li>
Aptiv PLC (APTV), an automotive technology supplier, announced on January 22, 2025, that it plans to split into two distinct companies.
</li>
<li>
Aptiv will spin-off its electrical systems business. The RemainCo will concentrate on technological components, including sensor-to-cloud solutions and autonomous driving software.
</li>
</ul>



There were no new spin-off announcements this week, but I’ve done some more work on the Aptiv (APTV) spin-off announcement.


Aptiv PLC (APTV), an automotive technology supplier, announced on January 22, 2025, that it plans to split into two distinct companies.


Aptiv will spin-off its electrical systems business. The RemainCo will concentrate on technological components, including sensor-to-cloud solutions and autonomous driving software.



Weekly Update (APTV, MRP, MEDXF, AAF, WDC)

United States

Lear Corporation manufactures automobile parts.  The Company produces seating systems; wiring harnesses; terminals; connectors; junction boxes; body control electronics; wireless products; and audio systems.

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Lear Corp (LEA US)

Lear Corporation: Geographical Expansion & Local Partnerships in China To Catalyze Growth! - Major Drivers

Lear Corporation, a global leader in automotive seating and electrical systems, reported third-quarter earnings for the year 2024, demonstrating...

Baptista Research

Lear Corporation: Expansion in China and Emerging Markets Catalyzing Top-Line Growth! - Major Drivers

Lear Corporation delivered its second quarter 2024 earnings with several noteworthy elements that merit evaluation for a balanced investment...

Baptista Research

Contrarian Bargains Among Santa's Discards

We identified selected contrarian value opportunities for bulls among Santa’s discards for potential outperformance into January and beyond.

Cam Hui

Weekly Update (APTV, MRP, MEDXF, AAF, WDC)

There were no new spin-off announcements this week, but I’ve done some more work on the Aptiv (APTV) spin-off announcement.

Richard Howe

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Lear Corporation: Market Adaptation & Share Strategy to Enhance Its Regional & Global Footprint!

Lear Corporation's first-quarter 2025 performance presents a mixed bag of achievements and challenges, as it navigates the complexities of the...

Baptista Research

Lear Corporation: Geographical Expansion & Local Partnerships in China To Catalyze Growth! - Major Drivers

Lear Corporation, a global leader in automotive seating and electrical systems, reported third-quarter earnings for the year 2024, demonstrating...

Baptista Research

Lear Corporation: Expansion in China and Emerging Markets Catalyzing Top-Line Growth! - Major Drivers

Lear Corporation delivered its second quarter 2024 earnings with several noteworthy elements that merit evaluation for a balanced investment...

Baptista Research

Contrarian Bargains Among Santa's Discards

We identified selected contrarian value opportunities for bulls among Santa’s discards for potential outperformance into January and beyond.

Cam Hui

Weekly Update (APTV, MRP, MEDXF, AAF, WDC)

There were no new spin-off announcements this week, but I’ve done some more work on the Aptiv (APTV) spin-off announcement.

Richard Howe