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, Inc. delivered a mixed set of results for the previous quarter, with revenues below the analyst consensus.</li><li>In the third quarter, Lowe's experienced a 7.4% decline in comparable sales, primarily attributed to a greater-than-expected reduction in discretionary spending by DIY customers, particularly in higher-priced categories.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

Lowe's Companies, Inc. delivered a mixed set of results for the previous quarter, with revenues below the analyst consensus.In the third quarter, Lowe's experienced a 7.4% decline in comparable sales, primarily attributed to a greater-than-expected reduction in discretionary spending by DIY customers, particularly in higher-priced categories.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

Lowe's Companies Inc.: The Latest Partnership With Carhatt & Other Major Developments

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 move upward, with the resistance at 1,431/1,441 points and the support at 1,415/1,408 points (25-day EMA/10-day EMA).</li><li>The highlight among international firms is NVIDIA (EPS expected at USD3.36), a US stock offering the best returns thus far this year; upbeat earnings or positive earnings guidance will generate healthy momentum in the technology sector and directly benefit the electronics sector.</li><li>The outcome of the Cabinet meeting is anticipated to have a positive impact on the SET, particularly benefiting sectors related to domestic consumption and stocks listed in the SET ESG index.</li></ul>

Technically, the SET Index is expected to move upward, with the resistance at 1,431/1,441 points and the support at 1,415/1,408 points (25-day EMA/10-day EMA).The highlight among international firms is NVIDIA (EPS expected at USD3.36), a US stock offering the best returns thus far this year; upbeat earnings or positive earnings guidance will generate healthy momentum in the technology sector and directly benefit the electronics sector.The outcome of the Cabinet meeting is anticipated to have a positive impact on the SET, particularly benefiting sectors related to domestic consumption and stocks listed in the SET ESG index.

Krungthai XSpring Zoom Eng. November 21, 2023

<ul><li>Lowe's Companies delivered a positive result and managed an all-around beat last quarter.</li><li>Despite uncertainties in the macro environment, these investments yielded positive results with favorable comps in the Pro segment and substantial growth of 6.9% in comparable online sales, underscoring the enhancements made in the omnichannel experience.</li><li>Core Pro customers responded well to the expanded national brands, MVP's Pro Rewards program, and improved online tools.</li></ul>

Lowe's Companies delivered a positive result and managed an all-around beat last quarter.Despite uncertainties in the macro environment, these investments yielded positive results with favorable comps in the Pro segment and substantial growth of 6.9% in comparable online sales, underscoring the enhancements made in the omnichannel experience.Core Pro customers responded well to the expanded national brands, MVP's Pro Rewards program, and improved online tools.

Lowe's Companies Inc.: Is The Expansion of Store-in-Store Concept A Possible Game Changer? - Major Drivers

President, Vision Research

Robert C Prather Jr

President

Vision Research

Vision Research was formed in 2004 with the vision of generating the best possible fundamental analysis and investment research for smid cap US equities. In 2008, we broadened our coverage to include mid/large cap US stocks.  After researching a  few ideas outside the US each year for a number of years, we launched a dedicated non-US equity product at the end of 2015.  This was followed by the introduction of a product focused on IPOs in mid-2017.

Fundamental Insight

<ul>
<li>2/3 of sales face secular decline in housing demand/shrinking population and the other 1/3 facing weak housing environment due to rising rates</li>
<li>Competition from private label and weak trends and ratios exist</li>
<li>The valuation does not seem to reflect the risks highlighted</li>
</ul>


2/3 of sales face secular decline in housing demand/shrinking population and the other 1/3 facing weak housing environment due to rising rates
Competition from private label and weak trends and ratios exist
The valuation does not seem to reflect the risks highlighted


Lixil (5938 JP): Levered Business Facing Cyclical & Secular Headwinds & Continued Mkt Share Pressure

<ul><li>Lowe's Companies delivered a positive result and managed an all-around beat in the last quarter.</li><li>Through its MVPs Pro Rewards Program and its expanded assortment of Pro national brands, it continues to build momentum with the Pro.</li><li>Despite the pressures, it is seen that the comparable Pro sales are a bit positive, with broad-based strength in several categories.</li></ul>

Lowe's Companies delivered a positive result and managed an all-around beat in the last quarter.Through its MVPs Pro Rewards Program and its expanded assortment of Pro national brands, it continues to build momentum with the Pro.Despite the pressures, it is seen that the comparable Pro sales are a bit positive, with broad-based strength in several categories.

Lowe's Companies Inc: Launch of Digital MVP Business Tools for Pros & Other Developments

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 Inc.: The Latest Partnership With Carhatt & Other Major Developments

Lowe's Companies, Inc. delivered a mixed set of results for the previous quarter, with revenues below the analyst consensus. In the third quarter,...

Baptista Research

Krungthai XSpring Zoom Eng. November 21, 2023

Technically, the SET Index is expected to move upward, with the resistance at 1,431/1,441 points and the support at 1,415/1,408 points (25-day...

Krungthai XSpring

Lowe's Companies Inc.: Is The Expansion of Store-in-Store Concept A Possible Game Changer? - Major Drivers

Lowe's Companies delivered a positive result and managed an all-around beat last quarter. Despite uncertainties in the macro environment, these...

Baptista Research

Lowe's Companies Inc: Launch of Digital MVP Business Tools for Pros & Other Developments

Lowe's Companies delivered a positive result and managed an all-around beat in the last quarter. Through its MVPs Pro Rewards Program and its...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Lowe's Companies Inc.: The Latest Partnership With Carhatt & Other Major Developments

Lowe's Companies, Inc. delivered a mixed set of results for the previous quarter, with revenues below the analyst consensus. In the third quarter,...

Baptista Research

Krungthai XSpring Zoom Eng. November 21, 2023

Technically, the SET Index is expected to move upward, with the resistance at 1,431/1,441 points and the support at 1,415/1,408 points (25-day...

Krungthai XSpring

Lowe's Companies Inc.: Is The Expansion of Store-in-Store Concept A Possible Game Changer? - Major Drivers

Lowe's Companies delivered a positive result and managed an all-around beat last quarter. Despite uncertainties in the macro environment, these...

Baptista Research

Lixil (5938 JP): Levered Business Facing Cyclical & Secular Headwinds & Continued Mkt Share Pressure

Expensive stock with a levered balance sheet, increasing competition, declining cash flow where Free Cash Flow does not cover the dividend, and...

Robert C Prather Jr

Lowe's Companies Inc: Launch of Digital MVP Business Tools for Pros & Other Developments

Lowe's Companies delivered a positive result and managed an all-around beat in the last quarter. Through its MVPs Pro Rewards Program and its...

Baptista Research