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>PepsiCo, during its latest earnings session, addressed strategic initiatives and market performance which provide insights into the company’s operational outlook and potential investment considerations.</li><li>Here are some key elements from the session that help form an investment thesis.</li><li>On the positive side, PepsiCo aims to intensify its market presence through "increased affordability initiatives," particularly within the PepsiCo Foods North America (PFNA) segment.</li></ul>

PepsiCo, during its latest earnings session, addressed strategic initiatives and market performance which provide insights into the company’s operational outlook and potential investment considerations.Here are some key elements from the session that help form an investment thesis.On the positive side, PepsiCo aims to intensify its market presence through "increased affordability initiatives," particularly within the PepsiCo Foods North America (PFNA) segment.

Why PepsiCo Is Doubling Down on Pricing Reinvestment and Brand Power?

<ul><li>PepsiCo's third-quarter 2025 earnings call highlighted several key aspects of the company's performance and strategic direction.</li><li>The company reported growth in beverages after adjusting for changes in its case pack water business, but noted some challenges within the food segment due to a new promotional strategy.</li><li>This shift from brand-specific discounts to an everyday low-value approach impacted volumes but improved revenue realization.</li></ul>

PepsiCo's third-quarter 2025 earnings call highlighted several key aspects of the company's performance and strategic direction.The company reported growth in beverages after adjusting for changes in its case pack water business, but noted some challenges within the food segment due to a new promotional strategy.This shift from brand-specific discounts to an everyday low-value approach impacted volumes but improved revenue realization.

PepsiCo Faces A $4 Billion Shake-Up: Is Elliott About To Break The Bottles?

<ul><li>PepsiCo recently reported its third-quarter 2025 earnings, focusing on the key challenges and opportunities across its food and beverage businesses.</li><li>Volume pressures were noted in both segments, influenced by strategic shifts like the pivot to smaller pack sizes and changes in promotional strategies.</li><li>This has led to a nuanced impact on volume, with beverages witnessing slight growth when excluding the case pack water divestment, while the foods segment saw adjusted promotional strategies result in better revenue realization despite impacting volumes.</li></ul>

PepsiCo recently reported its third-quarter 2025 earnings, focusing on the key challenges and opportunities across its food and beverage businesses.Volume pressures were noted in both segments, influenced by strategic shifts like the pivot to smaller pack sizes and changes in promotional strategies.This has led to a nuanced impact on volume, with beverages witnessing slight growth when excluding the case pack water divestment, while the foods segment saw adjusted promotional strategies result in better revenue realization despite impacting volumes.

PepsiCo: What Is The Story Behind Its Expansion in Nonsparkling Beverages & Latest International Market Penetration?

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>Since late-February(2/25/25) we were expecting an 8-10% pullback to provide a buying opportunity.However,after getting the 10%+ pullback, we discussed 4/1/25 that we no longer saw it as a buying opportunity</li>
<li>We downgraded our outlook to bearish/cautious. We then discussed last week(4/8/25)how it was a logical spot for a local bottom to develop at 4800-4820 on SPX and $402-$412 on QQQ. </li>
<li>A rally sparked from there, but we now are looking for SPX rally to fizzle, either here at 5490-5500 (20-day MA) or the 200-day MA (currently 5754) or 5785 level</li>
</ul>


Since late-February(2/25/25) we were expecting an 8-10% pullback to provide a buying opportunity.However,after getting the 10%+ pullback, we discussed 4/1/25 that we no longer saw it as a buying opportunity
We downgraded our outlook to bearish/cautious. We then discussed last week(4/8/25)how it was a logical spot for a local bottom to develop at 4800-4820 on SPX and $402-$412 on QQQ. 
A rally sparked from there, but we now are looking for SPX rally to fizzle, either here at 5490-5500 (20-day MA) or the 200-day MA (currently 5754) or 5785 level


Expecting SPX Rally to Fizzle at 5490-5500 or 5785; Still Bearish/Cautious and Defensive

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>
<a href="https://www.smartkarma.com/entities/pepsico-inc" target="_blank" data-smartkarma-citation="entities:4967:1" rel="noopener">Pepsico Inc (PEP US)</a> plans to scale its snacks and food business in India by customizing products for regional tastes and promoting innovation.</li>
<li>India is projected to become the world’s third-largest economy by 2028, driven by reforms, consumption, and infrastructure growth.</li>
<li>India finalizes a $7.6 billion deal for 26 Rafale M jets, boosting naval air power and strengthening Indo-Pacific deterrence..</li>
</ul>



Pepsico Inc (PEP US) plans to scale its snacks and food business in India by customizing products for regional tastes and promoting innovation.
India is projected to become the world’s third-largest economy by 2028, driven by reforms, consumption, and infrastructure growth.
India finalizes a $7.6 billion deal for 26 Rafale M jets, boosting naval air power and strengthening Indo-Pacific deterrence..


#121 India Insight: PepsiCo Expands, Rafale Boost for Navy, India to Be 3rd Largest Economy

United States

PepsiCo, Inc. operates worldwide beverage, snack and food businesses. The Company manufactures or uses contract manufacturers, markets and sells a variety of grain-based snacks, carbonated and non-carbonated beverages and foods in countries throughout the world.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Pepsico Inc (PEP US)

Why PepsiCo Is Doubling Down on Pricing Reinvestment and Brand Power?

PepsiCo, during its latest earnings session, addressed strategic initiatives and market performance which provide insights into the company’s...

Baptista Research

PepsiCo Faces A $4 Billion Shake-Up: Is Elliott About To Break The Bottles?

PepsiCo's third-quarter 2025 earnings call highlighted several key aspects of the company's performance and strategic direction. The company...

Baptista Research

PepsiCo: What Is The Story Behind Its Expansion in Nonsparkling Beverages & Latest International Market Penetration?

PepsiCo recently reported its third-quarter 2025 earnings, focusing on the key challenges and opportunities across its food and beverage...

Baptista Research

Expecting SPX Rally to Fizzle at 5490-5500 or 5785; Still Bearish/Cautious and Defensive

Expecting $SPX Rally to Fizzle at 5490-5500 or 5785; Still Bearish/Cautious and Defensive. Crucial long-term SPX and $QQQ supports at 4800-4820 and...

Vermilion Research

#121 India Insight: PepsiCo Expands, Rafale Boost for Navy, India to Be 3rd Largest Economy

Pepsico Inc aims to expand in India by tailoring products to local preferences and focusing on innovation, as the country's economy grows and...

Sudarshan Bhandari

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Why PepsiCo Is Doubling Down on Pricing Reinvestment and Brand Power?

PepsiCo, during its latest earnings session, addressed strategic initiatives and market performance which provide insights into the company’s...

Baptista Research

PepsiCo Faces A $4 Billion Shake-Up: Is Elliott About To Break The Bottles?

PepsiCo's third-quarter 2025 earnings call highlighted several key aspects of the company's performance and strategic direction. The company...

Baptista Research

PepsiCo: What Is The Story Behind Its Expansion in Nonsparkling Beverages & Latest International Market Penetration?

PepsiCo recently reported its third-quarter 2025 earnings, focusing on the key challenges and opportunities across its food and beverage...

Baptista Research

Expecting SPX Rally to Fizzle at 5490-5500 or 5785; Still Bearish/Cautious and Defensive

Expecting $SPX Rally to Fizzle at 5490-5500 or 5785; Still Bearish/Cautious and Defensive. Crucial long-term SPX and $QQQ supports at 4800-4820 and...

Vermilion Research

#121 India Insight: PepsiCo Expands, Rafale Boost for Navy, India to Be 3rd Largest Economy

​Pepsico Inc aims to expand in India by tailoring products to local preferences and focusing on innovation, as the country's economy grows and...

Sudarshan Bhandari

Pepsico Inc aims to expand in India by tailoring products to local preferences and focusing on innovation, as the country's economy grows and...