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>Pentair reported its third quarter 2025 results, demonstrating a mix of growth and strategic shifts.</li><li>The company achieved record figures in several financial metrics, including adjusted operating income, return on sales (ROS), and adjusted earnings per share (EPS).</li><li>The sales growth of 3% was mainly driven by the Pool and Flow segments.</li></ul>

Pentair reported its third quarter 2025 results, demonstrating a mix of growth and strategic shifts.The company achieved record figures in several financial metrics, including adjusted operating income, return on sales (ROS), and adjusted earnings per share (EPS).The sales growth of 3% was mainly driven by the Pool and Flow segments.

Pentair’s Innovation Drive—Can Smart Water Solutions Keep It Ahead of Rivals?

<ul><li>Pentair's second quarter of 2025 showed strong performance across key financial metrics, with record-breaking sales, adjusted operating income, return on sales, and adjusted EPS.</li><li>Sales grew by 2%, driven largely by the Pool segment with a 9% increase, while adjusted operating income saw a 9% rise.</li><li>The company's return on sales expanded by 170 basis points to 26.4%, and adjusted EPS climbed by 14% to $1.39.</li></ul>

Pentair's second quarter of 2025 showed strong performance across key financial metrics, with record-breaking sales, adjusted operating income, return on sales, and adjusted EPS.Sales grew by 2%, driven largely by the Pool segment with a 9% increase, while adjusted operating income saw a 9% rise.The company's return on sales expanded by 170 basis points to 26.4%, and adjusted EPS climbed by 14% to $1.39.

Pentair Plc.: Initiation Of Coverage- Its Market Recovery & Product Innovation in Water Solutions Is Catching Our Attention!

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>The MV Junior Gold Miners index represents the performance of small-cap gold and silver mining companies listed around the world. We like it because of impact. </li>
<li>This index is reviewed semiannually in March/September. During these reviews, names can be added or deleted from the index. </li>
<li>There are several expected ADDs/DELs for the September 2025 index rebal event. There will also be flows for the other index members due to capping.</li>
</ul>


The MV Junior Gold Miners index represents the performance of small-cap gold and silver mining companies listed around the world. We like it because of impact. 
This index is reviewed semiannually in March/September. During these reviews, names can be added or deleted from the index. 
There are several expected ADDs/DELs for the September 2025 index rebal event. There will also be flows for the other index members due to capping.


[Quiddity Index] MV Junior Gold Miners Sep25 Rebal: Multiple Changes Possible; ~US$400mn One-Way

Industrias Penoles, S.A.B. De C.V. / Index Rebalance

<ul>
<li>The MV Junior Gold Miners index represents the performance of small-cap gold and silver mining companies listed around the world. </li>
<li>This index is reviewed semi-annually in March/September. During these reviews, names can be added or deleted from the index. We like it because a lot of money tracks it.</li>
<li>There are several potential ADDs/DELs for the Index Rebal Event in September 2025 but as yet most are Medium Conviction. There are a couple of large capping flows expected. </li>
</ul>


The MV Junior Gold Miners index represents the performance of small-cap gold and silver mining companies listed around the world. 
This index is reviewed semi-annually in March/September. During these reviews, names can be added or deleted from the index. We like it because a lot of money tracks it.
There are several potential ADDs/DELs for the Index Rebal Event in September 2025 but as yet most are Medium Conviction. There are a couple of large capping flows expected. 


[Quiddity Index] MV Junior Gold Miners Sep25 Rebalance Predictions: Flow Expectations

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 and the significant end-of-year rally that we have been expecting since mid-October is in progress.</li>
<li>There is little to do besides continue to ride the trend higher following our 11/5/24 and 11/19/24 Compass reports which both had "Buy the Pullback" in the title</li>
<li>We also continue to expect to see support at the 20-day MAs on the Russell 2000 (IWM), S&amp;P 500, and Nasdaq 100 (QQQ)</li>
</ul>


Our outlook remains bullish and the significant end-of-year rally that we have been expecting since mid-October is in progress.
There is little to do besides continue to ride the trend higher following our 11/5/24 and 11/19/24 Compass reports which both had "Buy the Pullback" in the title
We also continue to expect to see support at the 20-day MAs on the Russell 2000 (IWM), S&amp;P 500, and Nasdaq 100 (QQQ)


Improving Market Dynamics; Outlook Remains Bullish; MSCI EAFE, ACWI Ex-US, Europe to Join the Party?

United States

Pentair PLC delivers services and solutions for its customer's diverse needs in water and other fluids, thermal management and equipment protection. The Company is organized as three operating segments: Water & Fluid Solutions; Valves & Controls; and Technical Solutions. Pentair manufactures and distributes its products worldwide.

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Pentair Plc (PNR US)

Pentair’s Innovation Drive—Can Smart Water Solutions Keep It Ahead of Rivals?

Pentair reported its third quarter 2025 results, demonstrating a mix of growth and strategic shifts. The company achieved record figures in...

Baptista Research

Pentair Plc.: Initiation Of Coverage- Its Market Recovery & Product Innovation in Water Solutions Is Catching Our Attention!

Pentair's second quarter of 2025 showed strong performance across key financial metrics, with record-breaking sales, adjusted operating income,...

Baptista Research

[Quiddity Index] MV Junior Gold Miners Sep25 Rebal: Multiple Changes Possible; ~US$400mn One-Way

The MV Junior Gold Miners Index is an interesting rebal mostly because there is capping, and there are deletions both up and down. Names get...

Travis Lundy

[Quiddity Index] MV Junior Gold Miners Sep25 Rebalance Predictions: Flow Expectations

The semi-annual index rebalance for the MV Junior Gold Miners Index will take place in September. There are several potential ADDs/DELs. So far all...

Travis Lundy

Improving Market Dynamics; Outlook Remains Bullish; MSCI EAFE, ACWI Ex-US, Europe to Join the Party?

Improving Market Dynamics; Outlook Remains Bullish $SPX $IWM $QQQ; MSCI EAFE $EFA, ACWI ex-US $ACWX, and Europe $HEDJ $FEZ to Join the Party?...

Vermilion Research

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