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>Manulife Financial recently held its second-quarter 2024 earnings call to review its financial and operating results.</li><li>The material focused on the company's strategic updates, recent accomplishments, and future directions.</li><li>Positively, Manulife Financial showcased a transition from a high-risk, low Return on Equity (ROE) entity in 2017 to a lower-risk, high ROE company today.</li></ul>

Manulife Financial recently held its second-quarter 2024 earnings call to review its financial and operating results.The material focused on the company's strategic updates, recent accomplishments, and future directions.Positively, Manulife Financial showcased a transition from a high-risk, low Return on Equity (ROE) entity in 2017 to a lower-risk, high ROE company today.

Manulife Financial Corporation: Adaptation to Macro-Economic Changes and Regulatory Evolution in Asian Markets! - 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.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/great-eastern-holdings-ltd" target="_blank" data-smartkarma-citation="entities:13993:1" rel="noopener">Great Eastern Holdings (GE SP)</a> IFA opines that the <a href="https://www.smartkarma.com/entities/oversea-chinese-banking-corp" target="_blank" data-smartkarma-citation="entities:114:1" rel="noopener">OCBC (OCBC SP)</a> S$25.60 offer is NOT fair but reasonable as it is below the valuation range of S$28.87-S$36.19 per share.</li>
<li>In response, OCBC declared the price final, and the final closing date is 12 July. Great Eastern will likely breach free float requirements and be suspended when the offer closes.</li>
<li>The offer will likely follow the Boustead Projects/Boustead Singapore blueprint, where SGX RegCo eventually (took seven months) enabled dissenters to receive a fair offer with a 24% uplift. </li>
</ul>



Great Eastern Holdings (GE SP) IFA opines that the OCBC (OCBC SP) S$25.60 offer is NOT fair but reasonable as it is below the valuation range of S$28.87-S$36.19 per share.
In response, OCBC declared the price final, and the final closing date is 12 July. Great Eastern will likely breach free float requirements and be suspended when the offer closes.
The offer will likely follow the Boustead Projects/Boustead Singapore blueprint, where SGX RegCo eventually (took seven months) enabled dissenters to receive a fair offer with a 24% uplift. 


Great Eastern Holdings (GE SP): Playbook as OCBC Offer Declared Final, IFA Opines NOT Fair

<ul><li>Manulife Financial Corporation has posted a strong first quarter of 2024, exemplifying solid strategic execution and financial performance across its diversified operations.</li><li>The company reported a 16% growth in core earnings and a significant 20% increase in core EPS, supported by robust contributions from its Asian markets and Global Wealth and Asset Management (WAM) segments.</li><li>Furthermore, core return on equity (ROE) advanced by nearly two percentage points year-over-year to 16.7%, surpassing the medium-term target of 15%.</li></ul>

Manulife Financial Corporation has posted a strong first quarter of 2024, exemplifying solid strategic execution and financial performance across its diversified operations.The company reported a 16% growth in core earnings and a significant 20% increase in core EPS, supported by robust contributions from its Asian markets and Global Wealth and Asset Management (WAM) segments.Furthermore, core return on equity (ROE) advanced by nearly two percentage points year-over-year to 16.7%, surpassing the medium-term target of 15%.

Manulife Financial Corporation: Enhanced Asian Market Engagement and Growth Strategy & Other Major Drivers

<ul><li>Manulife Financial Corporation produced a fair result with decent momentum in its top-line KPIs, with APE sales, new business value, and new business CSM all up by double digits.</li><li>Besides, they achieved APE sales of $1.6 billion, a new business value of $585 million, and a new business CSM of $592 million, an increase of 15% from the preceding year and in line with their medium-term plan.</li><li>They have now added Manulife Vitality to new Manulife Par individual insurance policies in Canada, considerably broadening their behavioral insurance program.</li></ul>

Manulife Financial Corporation produced a fair result with decent momentum in its top-line KPIs, with APE sales, new business value, and new business CSM all up by double digits.Besides, they achieved APE sales of $1.6 billion, a new business value of $585 million, and a new business CSM of $592 million, an increase of 15% from the preceding year and in line with their medium-term plan.They have now added Manulife Vitality to new Manulife Par individual insurance policies in Canada, considerably broadening their behavioral insurance program.

Manulife Financial Corporation: What Is Its Biggest Competitive Advantage? - Major Drivers

<ul><li>This is our first report on Manulife Financial Corporation, a leading financial products and services provider.</li><li>Despite a difficult market and operating environment, Manulife produced strong core earnings and sustained an increase in adjusted book value per share.</li><li>We initiate coverage on the stock of Manulife Financial Corporation with a 'Buy' rating.</li></ul>

This is our first report on Manulife Financial Corporation, a leading financial products and services provider.Despite a difficult market and operating environment, Manulife produced strong core earnings and sustained an increase in adjusted book value per share.We initiate coverage on the stock of Manulife Financial Corporation with a 'Buy' rating.

Manulife Financial Corporation: Initiation of Coverage – Business Strategy & Other Drivers

Canada

Manulife Financial Corporation is a Canadian multinational insurance company and financial services provider. It offers life and health insurance, wealth management, and investment solutions to individuals and groups across Canada, the U.S., and Asia. Headquartered in Toronto, Ontario, the company was founded in 1887.

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Manulife (945 HK)

Manulife Financial Corporation: Adaptation to Macro-Economic Changes and Regulatory Evolution in Asian Markets! - Major Drivers

Manulife Financial recently held its second-quarter 2024 earnings call to review its financial and operating results. The material focused on the...

Baptista Research

Great Eastern Holdings (GE SP): Playbook as OCBC Offer Declared Final, IFA Opines NOT Fair

Shares will likely breach float requirements and be suspended at offer close. While trading through terms, recent precedent suggests that investors...

Arun George

Manulife Financial Corporation: Enhanced Asian Market Engagement and Growth Strategy & Other Major Drivers

Manulife Financial Corporation has posted a strong first quarter of 2024, exemplifying solid strategic execution and financial performance across...

Baptista Research

Manulife Financial Corporation: What Is Its Biggest Competitive Advantage? - Major Drivers

Manulife Financial Corporation produced a fair result with decent momentum in its top-line KPIs, with APE sales, new business value, and new...

Baptista Research

Manulife Financial Corporation: Initiation of Coverage – Business Strategy & Other Drivers

This is our first report on Manulife Financial Corporation, a leading financial products and services provider. Despite a difficult market and...

Baptista Research

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