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>Lowe's Companies' second quarter 2024 earnings outlined a mixed performance amid challenging market conditions, reflecting both the strengths and weaknesses of its current business strategy.</li><li>The company reported Q2 sales of $23.6 billion, with comparable sales down by 5.1%.</li><li>This decline was attributed to a decrease in demand for Do-It-Yourself (DIY) projects, partially mitigated by solid performance in the Professional (Pro) segment and a growth in online sales.</li></ul>

Lowe's Companies' second quarter 2024 earnings outlined a mixed performance amid challenging market conditions, reflecting both the strengths and weaknesses of its current business strategy.The company reported Q2 sales of $23.6 billion, with comparable sales down by 5.1%.This decline was attributed to a decrease in demand for Do-It-Yourself (DIY) projects, partially mitigated by solid performance in the Professional (Pro) segment and a growth in online sales.

Lowe's Companies: A Dive Into Its Brand Strength & Market Position! - Major Drivers

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

<ul><li>Technically, the SET Index is expected to advance in a sideways-up pattern, with the resistance at 1,330/1,333 points and the support at 1,314 points (50-day EMA)/1,310 points.</li><li>The likelihood of the MPC maintaining the policy interest rate at the August 21 meeting has increased following the National Economic and Social Development Council's (NESDC) recent announcement of a slight revision to its 2024E GDP growth estimate, now at 2.3-2.8% (mean of 2.55%), compared to the previous 2-3% (mean of 2.5%).</li><li>We recommend stocks with positive factors: SCB, PTT and GFPT.</li></ul>

Technically, the SET Index is expected to advance in a sideways-up pattern, with the resistance at 1,330/1,333 points and the support at 1,314 points (50-day EMA)/1,310 points.The likelihood of the MPC maintaining the policy interest rate at the August 21 meeting has increased following the National Economic and Social Development Council's (NESDC) recent announcement of a slight revision to its 2024E GDP growth estimate, now at 2.3-2.8% (mean of 2.55%), compared to the previous 2-3% (mean of 2.5%).We recommend stocks with positive factors: SCB, PTT and GFPT.

<ul><li>Lowe's Companies reported its recent earnings and maintained the company's expectations for fiscal 2024.</li><li>Their first quarter sales were $21.4 billion, with comparable sales down 4.1% from the same period last year.</li><li>Despite the continued pressure in DIY big ticket discretionary spending, the company delivered better-than-expected spring seasonal sales.</li></ul>

Lowe's Companies reported its recent earnings and maintained the company's expectations for fiscal 2024.Their first quarter sales were $21.4 billion, with comparable sales down 4.1% from the same period last year.Despite the continued pressure in DIY big ticket discretionary spending, the company delivered better-than-expected spring seasonal sales.

Lowe's Companies: Front-End Transformation and Investment in Technology! - Major Drivers

<ul><li>Technically, the SET Index is expected to move sideways, with the resistance at 1,390/1,395 points and the support at 1,375/1,372 points (50-day EMA/25-day EMA).</li><li>Overall, the index has continued to move in an upward direction toward testing the resistance of the downchannel range at 1,404 points.</li><li>We maintain our recommendation of trading buy on weakness based on the expectation that the Thai stock market has already bottomed out.</li></ul>

Technically, the SET Index is expected to move sideways, with the resistance at 1,390/1,395 points and the support at 1,375/1,372 points (50-day EMA/25-day EMA).Overall, the index has continued to move in an upward direction toward testing the resistance of the downchannel range at 1,404 points.We maintain our recommendation of trading buy on weakness based on the expectation that the Thai stock market has already bottomed out.

EU's Trade Balance and Discussion on Establishment of LTFs

<ul><li>In the fourth quarter of 2023, Lowe's Companies reported a decline in comparable sales of 6.2% due to cautious consumer spending on home improvement projects and unfavorable weather.</li><li>The company faced challenges in attracting the do-it-yourself(DIY) customer segment to spend on big-ticket home improvement purchases, as macroeconomic factors such as persistent inflation and a stagnant housing market led these customers to focus on smaller, value-oriented projects.</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>

In the fourth quarter of 2023, Lowe's Companies reported a decline in comparable sales of 6.2% due to cautious consumer spending on home improvement projects and unfavorable weather.The company faced challenges in attracting the do-it-yourself(DIY) customer segment to spend on big-ticket home improvement purchases, as macroeconomic factors such as persistent inflation and a stagnant housing market led these customers to focus on smaller, value-oriented projects.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.

Lowe's Companies Inc.: Will The Seasonality & Changing Demand Trends Have An Impact On Its Near-Term Performance? - Major Drivers

United States

Lowe's Companies, Inc. is a home improvement retailer that distributes building materials and supplies through stores in the United States. The Company offers a complete line of products and services for home decorating, maintenance, repair, remodeling, and property maintenance.

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Lowe's Companies Inc (LOW US)

Lowe's Companies: A Dive Into Its Brand Strength & Market Position! - Major Drivers

Lowe's Companies' second quarter 2024 earnings outlined a mixed performance amid challenging market conditions, reflecting both the strengths and...

Baptista Research

Daily Market Outlook and Strategic Picks

Technically, the SET Index is expected to advance in a sideways-up pattern, with the resistance at 1,330/1,333 points and the support at 1,314...

Krungthai XSpring

Lowe's Companies: Front-End Transformation and Investment in Technology! - Major Drivers

Lowe's Companies reported its recent earnings and maintained the company's expectations for fiscal 2024. Their first quarter sales were $21.4...

Baptista Research

EU's Trade Balance and Discussion on Establishment of LTFs

Technically, the SET Index is expected to move sideways, with the resistance at 1,390/1,395 points and the support at 1,375/1,372 points (50-day...

Krungthai XSpring

Lowe's Companies Inc.: Will The Seasonality & Changing Demand Trends Have An Impact On Its Near-Term Performance? - Major Drivers

In the fourth quarter of 2023, Lowe's Companies reported a decline in comparable sales of 6.2% due to cautious consumer spending on home...

Baptista Research

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