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>Lumen Technologies demonstrated a mixed performance in the third quarter of 2025, exhibiting areas of strength and some challenges.</li><li>The company reported financial metrics ahead of expectations, with revenue, EBITDA, and free cash flow surpassing Street consensus.</li><li>Revenue for the quarter was approximately $3.087 billion, representing a decline of 4.2% year-over-year.</li></ul>

Lumen Technologies demonstrated a mixed performance in the third quarter of 2025, exhibiting areas of strength and some challenges.The company reported financial metrics ahead of expectations, with revenue, EBITDA, and free cash flow surpassing Street consensus.Revenue for the quarter was approximately $3.087 billion, representing a decline of 4.2% year-over-year.

Lumen Technologies Elevates Enterprise Performance With Intelligent Port Systems & Rapid Interconnects; What Lies Ahead?

<ul><li>Lumen Technologies' latest earnings reveals a company engaged in an ambitious transformation, illustrated by both promising developments and notable challenges.</li><li>The organization executed well on its strategy to drive operational efficiency, enhance its AI infrastructure, and transition its telecommunications model to a cloud based system.</li><li>These areas contributed to better-than-expected financial outcomes for the first quarter of 2025.</li></ul>

Lumen Technologies' latest earnings reveals a company engaged in an ambitious transformation, illustrated by both promising developments and notable challenges.The organization executed well on its strategy to drive operational efficiency, enhance its AI infrastructure, and transition its telecommunications model to a cloud based system.These areas contributed to better-than-expected financial outcomes for the first quarter of 2025.

Lumen Technologies: Recent Divestiture Of Consumer Fiber Business To AT&T

<ul><li>Lumen Technologies' latest financial results for the fourth quarter and full year of 2024 reveal several key factors affecting the company's current standing and future trajectory.</li><li>In 2024, Lumen made considerable progress in strengthening its financial position by reducing debt.</li><li>The company successfully lowered debt by $1.6 billion and sent redemption notices for an additional $200 million, indicating a focus on financial restructuring.</li></ul>

Lumen Technologies' latest financial results for the fourth quarter and full year of 2024 reveal several key factors affecting the company's current standing and future trajectory.In 2024, Lumen made considerable progress in strengthening its financial position by reducing debt.The company successfully lowered debt by $1.6 billion and sent redemption notices for an additional $200 million, indicating a focus on financial restructuring.

Lumen Technologies: The Top 6 Influences On Its Performance for 2025 & The Future!

<ul><li>Lumen Technologies' third-quarter 2024 performance outlines its strategic efforts and current challenges as it navigates a transformative phase to reposition the company within the digital networking and AI infrastructure sectors.</li><li>The company reported a revenue decline, reflecting ongoing headwinds from legacy business sectors, even as it strives to pivot its offerings toward newer, more competitive markets.</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>

Lumen Technologies' third-quarter 2024 performance outlines its strategic efforts and current challenges as it navigates a transformative phase to reposition the company within the digital networking and AI infrastructure sectors.The company reported a revenue decline, reflecting ongoing headwinds from legacy business sectors, even as it strives to pivot its offerings toward newer, more competitive markets.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.

Lumen Technologies Shakes Up the Industry with a Strategic Consumer–Enterprise Split! - Major Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Our outlook remains bullish following the S&amp;P 500's multi-month base breakout above 5670, alongside healthy market dynamics which have continued to improve.</li>
<li>Two weeks ago, our election day report (11/5/24) was titled "Buy the Pullback," and with the SPX/QQQ/IWM pulling back to their 20-day MAs, it's time to buy the pullback <em>again</em>.</li>
<li>We continue to expect significant upside into year-end and early 2025, and we expect support at the 20-day MAs on the aforementioned indexes (though support at 50-day MAs is possible).</li>
</ul>


Our outlook remains bullish following the S&amp;P 500's multi-month base breakout above 5670, alongside healthy market dynamics which have continued to improve.
Two weeks ago, our election day report (11/5/24) was titled "Buy the Pullback," and with the SPX/QQQ/IWM pulling back to their 20-day MAs, it's time to buy the pullback again.
We continue to expect significant upside into year-end and early 2025, and we expect support at the 20-day MAs on the aforementioned indexes (though support at 50-day MAs is possible).


Buy the Pullback Again; S&P 500, Nasdaq 100, Russell 2000 Testing Confluence of Support

United States

Lumen Technologies, Inc. provides digital solutions for home and business premises. The Company offers communications, network security, cloud solutions, voice, and managed services. Lumen Technologies serves customers worldwide.

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Lumen Technologies (LUMN US)

Lumen Technologies Elevates Enterprise Performance With Intelligent Port Systems & Rapid Interconnects; What Lies Ahead?

Lumen Technologies demonstrated a mixed performance in the third quarter of 2025, exhibiting areas of strength and some challenges. The company...

Baptista Research

Lumen Technologies: Recent Divestiture Of Consumer Fiber Business To AT&T

Lumen Technologies' latest earnings reveals a company engaged in an ambitious transformation, illustrated by both promising developments and...

Baptista Research

Lumen Technologies: The Top 6 Influences On Its Performance for 2025 & The Future!

Lumen Technologies' latest financial results for the fourth quarter and full year of 2024 reveal several key factors affecting the company's...

Baptista Research

Lumen Technologies Shakes Up the Industry with a Strategic Consumer–Enterprise Split! - Major Drivers

Lumen Technologies' third-quarter 2024 performance outlines its strategic efforts and current challenges as it navigates a transformative phase to...

Baptista Research

Buy the Pullback Again; S&P 500, Nasdaq 100, Russell 2000 Testing Confluence of Support

Buy the Pullback Again, Same as Our Election Day Report; S&P 500 $SPX, Nasdaq 100 $QQQ, Russell 2000 $IWM Testing Confluence of Support at 20-day...

Vermilion Research

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