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>LKQ Corporation reported its Fourth Quarter and Full Year 2023 Earnings, highlighting the company's performance.</li><li>According to Joseph Boutross, Vice President of Investor Relations, LKQ Corporation delivered strong full year organic revenue growth for parts and services.</li><li>This is reflective of the company's continued strive to maintain operational excellence, drive organic revenue growth and achieve excellent free cash flow.</li></ul>

LKQ Corporation reported its Fourth Quarter and Full Year 2023 Earnings, highlighting the company's performance.According to Joseph Boutross, Vice President of Investor Relations, LKQ Corporation delivered strong full year organic revenue growth for parts and services.This is reflective of the company's continued strive to maintain operational excellence, drive organic revenue growth and achieve excellent free cash flow.

LKQ Corporation: Driving Organic Revenue Growth Through Increased Fulfillment Rates and Productivity! - Major Drivers

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tuhu-car" target="_blank" data-smartkarma-citation="entities:36012:1" rel="noopener">Tuhu Car (2007986D HK)</a>, a leading integrated online and offline platform for automotive service in China, has launched its HKEx IPO at a price range of HK$28.00-31.00 per share.</li>
<li>In <strong><em><a href="https://www.smartkarma.com/insights/tuhu-car-ipo-the-investment-case" target="_blank" data-smartkarma-citation="insights:112644" rel="noopener">TUHU Car IPO: The Investment Case</a></em></strong>, we highlighted the key elements of the investment case. In this note, we present our forecasts and discuss valuation.</li>
<li>Our valuation analysis suggests that Tuhu is reasonably priced at the IPO price range. We would participate in the IPO. </li>
</ul>



Tuhu Car (2007986D HK), a leading integrated online and offline platform for automotive service in China, has launched its HKEx IPO at a price range of HK$28.00-31.00 per share.
In TUHU Car IPO: The Investment Case, we highlighted the key elements of the investment case. In this note, we present our forecasts and discuss valuation.
Our valuation analysis suggests that Tuhu is reasonably priced at the IPO price range. We would participate in the IPO. 


<ul><li>LKQ delivered mixed results for the previous quarter, with revenues well below Wall Street’s expectations but managed an earnings beat.</li><li>Despite the headwinds from various macroeconomic conditions, the company's core segments demonstrated resilience, showcasing the strength of its business model and operational excellence initiatives.</li><li>The North American and European segments collectively accounted for around 90% of the total component EBITDA, reflecting the success of LKQ's diversification strategy.</li></ul>

LKQ delivered mixed results for the previous quarter, with revenues well below Wall Street’s expectations but managed an earnings beat.Despite the headwinds from various macroeconomic conditions, the company's core segments demonstrated resilience, showcasing the strength of its business model and operational excellence initiatives.The North American and European segments collectively accounted for around 90% of the total component EBITDA, reflecting the success of LKQ's diversification strategy.

LKQ Corporation: Can The Strategic Partnership With Mobivia Be A Game Changer? – Key  Drivers

<ul><li>LKQ Corporation delivered an all-around beat in the previous quarter.</li><li>LKQ continues to generate solid free cash flow, with a shift in phasing expected for the remainder of the year.</li><li>We give LKQ Corporation a 'Hold' rating with a revised target price.</li></ul>

LKQ Corporation delivered an all-around beat in the previous quarter.LKQ continues to generate solid free cash flow, with a shift in phasing expected for the remainder of the year.We give LKQ Corporation a 'Hold' rating with a revised target price.

LKQ Corporation: Unpacking The Strategic Partnership with LeasePlan & Other Drivers

<ul><li>LKQ Corporation delivered a significantly below part result in the year's final quarter.</li><li>Revenue declined in the quarter as compared to the last year, driven by the divestiture of PGW and FX translation.</li><li>Organic revenue of parts and services increased but the overall top-line was below analyst expectations.</li></ul>

LKQ Corporation delivered a significantly below part result in the year's final quarter.Revenue declined in the quarter as compared to the last year, driven by the divestiture of PGW and FX translation.Organic revenue of parts and services increased but the overall top-line was below analyst expectations.

LKQ Corporation: The Uni-Select Acquisition & Other Drivers

United States

LKQ Corporation offers automotive products and services. The Company provides alternative collision replacement parts, recycled engines and transmissions, as well as remanufactured engines. LKQ offers customers in North America, Central America and Europe replacement systems, components and parts for the repair of automobiles and light, medium, and heavy-duty trucks.

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Lkq Corp (LKQ US)

LKQ Corporation: Driving Organic Revenue Growth Through Increased Fulfillment Rates and Productivity! - Major Drivers

LKQ Corporation reported its Fourth Quarter and Full Year 2023 Earnings, highlighting the company's performance. According to Joseph Boutross,...

Baptista Research

TUHU Car IPO: Valuation Insights

Tuhu has launched its HKEx IPO at a price range of HK$28.00-31.00 per share. Our valuation analysis suggests that Tuhu is reasonably priced at the...

Arun George

LKQ Corporation: Can The Strategic Partnership With Mobivia Be A Game Changer? – Key Drivers

LKQ delivered mixed results for the previous quarter, with revenues well below Wall Street’s expectations but managed an earnings beat. Despite...

Baptista Research

LKQ Corporation: Unpacking The Strategic Partnership with LeasePlan & Other Drivers

LKQ Corporation delivered an all-around beat in the previous quarter. LKQ continues to generate solid free cash flow, with a shift in phasing...

Baptista Research

LKQ Corporation: The Uni-Select Acquisition & Other Drivers

LKQ Corporation delivered a significantly below part result in the year's final quarter. Revenue declined in the quarter as compared to the last...

Baptista Research

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