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>Nike Inc. is at a pivotal moment as new CEO Elliott Hill endeavors to reverse a persistent sales slump and restore the company's dominance in the highly competitive sportswear market.</li><li>Hill, who returned to Nike after a three-decade career with the company, has pledged to refocus on sports-centric innovation and strengthen the brand’s core offerings.</li><li>However, his task is compounded by significant missteps from his predecessor, John Donahoe, and mounting competitive threats that threaten Nike’s market position.</li></ul>

Nike Inc. is at a pivotal moment as new CEO Elliott Hill endeavors to reverse a persistent sales slump and restore the company's dominance in the highly competitive sportswear market.Hill, who returned to Nike after a three-decade career with the company, has pledged to refocus on sports-centric innovation and strengthen the brand’s core offerings.However, his task is compounded by significant missteps from his predecessor, John Donahoe, and mounting competitive threats that threaten Nike’s market position.

Nike’s Shocking Struggles: Will CEO Elliott Hill's Turnaround Strategy Work?

HK/China Equity Long-Short

Osbert Tang, CFA

<ul>
<li>Contribution from <a href="https://www.smartkarma.com/entities/amer-sports-inc" target="_blank" data-smartkarma-citation="entities:21751:1" rel="noopener">Amer Sports (AS US)</a> will rise to 5.1%, 7.2%, and 8.9% of <a href="https://www.smartkarma.com/entities/anta-sports-products-ltd" target="_blank" data-smartkarma-citation="entities:10261:1" rel="noopener">Anta Sports Products (2020 HK)</a>'s earnings in FY24-26, making it increasingly important.</li>
<li>Amer turned around sharply YoY in 3Q24 with a net profit of US$55.8m. Its gross margin sustained an uptrend, with excellent potential for business growth in Greater China.</li>
<li>Positive guidance on FY25 outlook with a low-double-digit-to-mid-teens level revenue growth, further expansion in operating margin, and continuous cuts in net finance costs.</li>
</ul>


Contribution from Amer Sports (AS US) will rise to 5.1%, 7.2%, and 8.9% of Anta Sports Products (2020 HK)'s earnings in FY24-26, making it increasingly important.
Amer turned around sharply YoY in 3Q24 with a net profit of US$55.8m. Its gross margin sustained an uptrend, with excellent potential for business growth in Greater China.
Positive guidance on FY25 outlook with a low-double-digit-to-mid-teens level revenue growth, further expansion in operating margin, and continuous cuts in net finance costs.


Amer Sports (AS US): An Engine for Anta Sports (2020 HK)

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>Nike is a high-quality company that has recently experienced a sell-off, presenting an attractive investment opportunity for long-term investors.</li><li>The company's historical track record, long-term competitive advantage, and potential for future success make it a strong choice for investors looking to hold onto their investments for five or more years.</li><li>Despite near-term missteps and temporary strength from competitors, Nike's strong brand reputation and track record of success suggest favorable odds for long-term investors.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Nike is a high-quality company that has recently experienced a sell-off, presenting an attractive investment opportunity for long-term investors.The company's historical track record, long-term competitive advantage, and potential for future success make it a strong choice for investors looking to hold onto their investments for five or more years.Despite near-term missteps and temporary strength from competitors, Nike's strong brand reputation and track record of success suggest favorable odds for long-term investors.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Nike Inc  -Cl B (NKE) - Wednesday, Aug 21, 2024

Overseas Chinese Equities, Aequitas Research

Ming Lu

Overseas Chinese Equities

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

<ul>
<li>Anta top line outperformed competitors, both overseas and domestic brands, in China.</li>
<li>We believe all margins will be stable and EPS will rise by 41% in 2024.</li>
<li>However, we believe Anta is overvalued at the current price.</li>
</ul>


Anta top line outperformed competitors, both overseas and domestic brands, in China.
We believe all margins will be stable and EPS will rise by 41% in 2024.
However, we believe Anta is overvalued at the current price.


Anta Sports (2020 HK): Healthy in Financials, Leader in Market, But High in Price

<ul><li>Nike recently announced a significant leadership change, with CEO John Donahoe stepping down and longtime company veteran Elliott Hill set to take over.</li><li>This transition comes amid a broader restructuring effort at Nike, aimed at addressing the company’s evolving business challenges.</li><li>Donahoe, who led the company through several years of strategic shifts, including the prioritization of direct-to-consumer sales, had faced increasing pressure due to flat revenue growth and lower-than-expected guidance for fiscal 2025.</li></ul>

Nike recently announced a significant leadership change, with CEO John Donahoe stepping down and longtime company veteran Elliott Hill set to take over.This transition comes amid a broader restructuring effort at Nike, aimed at addressing the company’s evolving business challenges.Donahoe, who led the company through several years of strategic shifts, including the prioritization of direct-to-consumer sales, had faced increasing pressure due to flat revenue growth and lower-than-expected guidance for fiscal 2025.

Nike CEO Shakeup: Challenges Ahead for Elliott Hill as He Takes the Helm of the Sneaker Giant!

United States

NIKE, Inc. designs, develops, and markets athletic footwear, apparel, equipment, and accessory products for men, women, and children. The Company sells its products worldwide to retail stores, through its own stores, subsidiaries, and distributors.

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Nike (NKE US)

Nike’s Shocking Struggles: Will CEO Elliott Hill's Turnaround Strategy Work?

Nike Inc. is at a pivotal moment as new CEO Elliott Hill endeavors to reverse a persistent sales slump and restore the company's dominance in the...

Baptista Research

Amer Sports (AS US): An Engine for Anta Sports (2020 HK)

Amer Sports' contribution to Anta's earnings is set to rise significantly in FY24-26, with positive growth outlook in Greater China and Asia...

Osbert Tang, CFA

Nike Inc -Cl B (NKE) - Wednesday, Aug 21, 2024

Nike is a high-quality company that has recently experienced a sell-off, presenting an attractive investment opportunity for long-term investors.

Value Investors Club (VIC)

Anta Sports (2020 HK): Healthy in Financials, Leader in Market, But High in Price

Anta outperformed competitors, both overseas and domestic brands, in China. We believe all margins will be stable and EPS will rise by 41% in 2024....

Ming Lu

Nike CEO Shakeup: Challenges Ahead for Elliott Hill as He Takes the Helm of the Sneaker Giant!

Nike recently announced a significant leadership change, with CEO John Donahoe stepping down and longtime company veteran Elliott Hill set to take...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Nike’s Shocking Struggles: Will CEO Elliott Hill's Turnaround Strategy Work?

Nike Inc. is at a pivotal moment as new CEO Elliott Hill endeavors to reverse a persistent sales slump and restore the company's dominance in the...

Baptista Research

Amer Sports (AS US): An Engine for Anta Sports (2020 HK)

​Amer Sports' contribution to Anta's earnings is set to rise significantly in FY24-26, with positive growth outlook in Greater China and Asia...

Osbert Tang, CFA

Nike Inc -Cl B (NKE) - Wednesday, Aug 21, 2024

Nike is a high-quality company that has recently experienced a sell-off, presenting an attractive investment opportunity for long-term investors.

Value Investors Club (VIC)

Anta Sports (2020 HK): Healthy in Financials, Leader in Market, But High in Price

Anta outperformed competitors, both overseas and domestic brands, in China. We believe all margins will be stable and EPS will rise by 41% in 2024....

Ming Lu

Nike CEO Shakeup: Challenges Ahead for Elliott Hill as He Takes the Helm of the Sneaker Giant!

Nike recently announced a significant leadership change, with CEO John Donahoe stepping down and longtime company veteran Elliott Hill set to take...

Baptista Research

Amer Sports' contribution to Anta's earnings is set to rise significantly in FY24-26, with positive growth outlook in Greater China and Asia...