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>Lululemon Athletica Inc. recently discussed its financial results for the second quarter of 2024.</li><li>The company's revenue increased by 7%, or 8% on a constant currency basis, marking a moderate growth trajectory amid a complex retail environment.</li><li>One positive highlight from the quarter was the notable performance in Lululemon's international markets, particularly in China Mainland, which saw a revenue increase of 34% or 37% in constant currency.</li></ul>

Lululemon Athletica Inc. recently discussed its financial results for the second quarter of 2024.The company's revenue increased by 7%, or 8% on a constant currency basis, marking a moderate growth trajectory amid a complex retail environment.One positive highlight from the quarter was the notable performance in Lululemon's international markets, particularly in China Mainland, which saw a revenue increase of 34% or 37% in constant currency.

Lululemon Athletica Inc.: An Insight Into Their Athleisure Market Position & Strategic Growth! - Major Drivers

Mostly Borrowed Ideas Deep Dives, MBI Deep Dives

MBI Deep Dives

Mostly Borrowed Ideas Deep Dives

MBI is the abbreviation for “Mostly Borrowed Ideas”. Why “Mostly Borrowed Ideas?” As a generalist, I do not have a background in any particular sector. I enjoy navigating across industries, businesses, and countries to learn, understand, and connect the dots. In any case, most ideas and innovations are incremental in nature. Very few of us are smart enough to come up with truly original or groundbreaking ideas. I am Abdullah Al-Rezwan. I was born and brought up in Bangladesh. I went to University of Dhaka for my undergrad and majored in Finance. After working three and half years in Equity Research (Sell-side) covering Financial Sector in Bangladesh, I left Bangladesh to pursue my MBA in the US. I graduated within top 10% of the class from Cornell University's two-year MBA program and worked on the buy-side following my graduation. During my time at Cornell, I won two stock pitch competitions and also became finalists in four other competitions. I thoroughly enjoyed my stint as a generalist in the US large cap team at Madison Investments and covered a wide range of companies from UnitedHealth to Amazon and Boeing before US immigration reality paused my career in investment management. As my work authorization expired, I moved to Canada in January, 2021. Then in early 2022, I was able to return to the US.

<ul><li>It is far from common for a stock to be up 4% after missing the revenue guide for the quarter and slashing the full-year revenue guide for the year.</li><li>That’s exactly what happened with Lululemon today which should tell you the kind of sentiment going into the earnings!</li><li>The crux of the bear thesis on Lulu usually circles around their US business. </li></ul>

It is far from common for a stock to be up 4% after missing the revenue guide for the quarter and slashing the full-year revenue guide for the year.That’s exactly what happened with Lululemon today which should tell you the kind of sentiment going into the earnings!The crux of the bear thesis on Lulu usually circles around their US business. 

Equity Research Focusing on the Consumer Sector, Small Cap Consumer Research

Small Cap Consumer Research

Equity Research Focusing on the Consumer Sector

Small Cap Consumer Research, LLC is a leading company-sponsored equity research provider focusing on the consumer sector (apparel, brand licensing and specialty retailing segments).

<ul><li>We are lowering our projections and price target for GUESS?, but reiterating our Buy rating, after the company reported inline 2Q results, but lowered FY25 top and bottom line guidance, as the company continues to invest in marketing and infrastructure for their recently completed rag and bone acquisition and the launch of Guess Jeans, while the domestic store operations remain under pressure.</li><li>While we fully understand and agree with the potential of the material opportunities for rag and bone and Guess Jeans to leverage the company's global and licensing infrastructure in the longer term, we believe investor frustration in the near term will be a key theme.</li><li>That said, with the GES dividend yield of approximately 6% and with our belief the upside potential of both rag and bone and Guess Jeans will become increasingly apparent relatively quickly, we are maintaining our Buy rating, even after lowering our FY25 projections below management guidance.</li></ul>

We are lowering our projections and price target for GUESS?, but reiterating our Buy rating, after the company reported inline 2Q results, but lowered FY25 top and bottom line guidance, as the company continues to invest in marketing and infrastructure for their recently completed rag and bone acquisition and the launch of Guess Jeans, while the domestic store operations remain under pressure.While we fully understand and agree with the potential of the material opportunities for rag and bone and Guess Jeans to leverage the company's global and licensing infrastructure in the longer term, we believe investor frustration in the near term will be a key theme.That said, with the GES dividend yield of approximately 6% and with our belief the upside potential of both rag and bone and Guess Jeans will become increasingly apparent relatively quickly, we are maintaining our Buy rating, even after lowering our FY25 projections below management guidance.

GES: 2Q Review: Thinking Longer Term, But What About NT?; Lowering EPS, PT

<ul><li>We are reiterating our Buy rating, $37 price target and projections for GUESS?</li><li>after visiting stores in the Metropolitan New York City and Long Island regions.</li><li>While Guess?</li></ul>

We are reiterating our Buy rating, $37 price target and projections for GUESS?after visiting stores in the Metropolitan New York City and Long Island regions.While Guess?

GES: Snapping the Store: Last Days of Summer; Reiterate Buy, $37 PT

<ul><li>We are reiterating our Buy rating, slightly below consensus projections, and $37 price target for Guess?</li><li>with the company announcing 2QFY25 (July) results after the close on Wednesday.</li><li>We believe 2Q, the first full quarter of results from rag & bone, continued positive shifts in wholesale and European operations and a further fashion focus in the domestic retail market, positions Guess?</li></ul>

We are reiterating our Buy rating, slightly below consensus projections, and $37 price target for Guess?with the company announcing 2QFY25 (July) results after the close on Wednesday.We believe 2Q, the first full quarter of results from rag & bone, continued positive shifts in wholesale and European operations and a further fashion focus in the domestic retail market, positions Guess?

GES: 2Q Preview: Setting Up for 2H Upside; Reiterate Buy, $37 PT

United States

lululemon athletica Inc. designs and retails athletic clothing.  The Company produces fitness pants, shorts, tops and jackets for yoga, dance, running, and general fitness. lululemon serves customers throughout the world.

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Lululemon Athletica (LULU US)

Lululemon Athletica Inc.: An Insight Into Their Athleisure Market Position & Strategic Growth! - Major Drivers

Lululemon Athletica Inc. recently discussed its financial results for the second quarter of 2024. The company's revenue increased by 7%, or 8% on...

Baptista Research

Lululemon 2Q'24 Update

It is far from common for a stock to be up 4% after missing the revenue guide for the quarter and slashing the full-year revenue guide for the...

MBI Deep Dives

GES: 2Q Review: Thinking Longer Term, But What About NT?; Lowering EPS, PT

We are lowering our projections and price target for GUESS?, but reiterating our Buy rating, after the company reported inline 2Q results, but...

Small Cap Consumer Research

GES: Snapping the Store: Last Days of Summer; Reiterate Buy, $37 PT

We are reiterating our Buy rating, $37 price target and projections for GUESS? after visiting stores in the Metropolitan New York City and Long...

Small Cap Consumer Research

GES: 2Q Preview: Setting Up for 2H Upside; Reiterate Buy, $37 PT

We are reiterating our Buy rating, slightly below consensus projections, and $37 price target for Guess? with the company announcing 2QFY25 (July)...

Small Cap Consumer Research

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