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>PPG Industries managed to exceed analyst expectations in terms of revenue as well as earnings.</li><li>PPG's strong posture in these end-use areas resulted in significant second-quarter sales in aerospace, automotive, automotive refinish, PPG Comex, and its protection and marine coatings division.</li><li>We give PPG Industries, Inc. a 'Hold' rating with a revised target price.</li></ul>

PPG Industries managed to exceed analyst expectations in terms of revenue as well as earnings.PPG's strong posture in these end-use areas resulted in significant second-quarter sales in aerospace, automotive, automotive refinish, PPG Comex, and its protection and marine coatings division.We give PPG Industries, Inc. a 'Hold' rating with a revised target price.

PPG Industries: Capitalizing Diverse Segments

<ul><li>Despite macro-challenges like weak global industrial activity, high cost inflation, ongoing geopolitical issues, and waning demand in U.S. construction-related end-use markets, PPG Industries delivered an all-around beat in its recent result.</li><li>During the quarter, PPG gained several new clients, including Walmart's 3,800 paint-related retail locations.</li><li>Besides, with more global rollouts planned, the company expects the automotive refinish industry to have 1,400 MOONWALK machines installed.</li></ul>

Despite macro-challenges like weak global industrial activity, high cost inflation, ongoing geopolitical issues, and waning demand in U.S. construction-related end-use markets, PPG Industries delivered an all-around beat in its recent result.During the quarter, PPG gained several new clients, including Walmart's 3,800 paint-related retail locations.Besides, with more global rollouts planned, the company expects the automotive refinish industry to have 1,400 MOONWALK machines installed.

PPG Industries Inc.: A Decent Performer Despite Weak Demand – Key Drivers

Credit

<ul><li>PPG is a renowned manufacturer and distributor of paints, coatings and specialty materials.</li><li>The company's recent financial performance has been solid and has been supported by ongoing real-time price hikes.</li><li>The company has consistently performed well in several of its companies, notably PPG Comex.</li></ul>

PPG is a renowned manufacturer and distributor of paints, coatings and specialty materials.The company's recent financial performance has been solid and has been supported by ongoing real-time price hikes.The company has consistently performed well in several of its companies, notably PPG Comex.

PPG Industries Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

<ul><li>This is our first report on PPG, a well-known manufacturer of paints, coatings and specialty materials.</li><li>The company performed well in several of its companies, notably PPG Comex.</li><li>They also began collaborating with the HD Supply team to find new paint clients, particularly in the commercial maintenance sector.</li></ul>

This is our first report on PPG, a well-known manufacturer of paints, coatings and specialty materials.The company performed well in several of its companies, notably PPG Comex.They also began collaborating with the HD Supply team to find new paint clients, particularly in the commercial maintenance sector.

PPG Industries Inc.: Initiation of Coverage – Business Model & Key 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

iShares Russell 2000 ETF / Technical Analysis

<ul>
<li>Since early-October we have discussed our expectation for a bear rally, targeting the 200-day MAs on the $IWM and $SPX; targets were hit (within 0.5% of hitting on SPX).</li>
<li>We are now seeing short-term uptrend breaks on the IWM and the DJIA; this is a good time to get defensive and/or take profits, as the 1.5-month rally appears over.</li>
<li>We expect more weakness in the weeks ahead, and we cannot rule out another test of the 2022 lows.</li>
</ul>


Since early-October we have discussed our expectation for a bear rally, targeting the 200-day MAs on the $IWM and $SPX; targets were hit (within 0.5% of hitting on SPX).
We are now seeing short-term uptrend breaks on the IWM and the DJIA; this is a good time to get defensive and/or take profits, as the 1.5-month rally appears over.
We expect more weakness in the weeks ahead, and we cannot rule out another test of the 2022 lows.


Time to Get Defensive After 1.5-Month Uptrend Breaks; High Yield Spreads Widening Much Like Mid-Aug.

United States

PPG Industries, Inc. supplies products for the manufacturing, construction, automotive, chemical processing, and other industries worldwide.  The Company makes protective and decorative coatings, flat glass, fabricated glass products, continuous-strand fiber glass products, and industrial and specialty chemicals.

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Ppg Industries (PPG US)

PPG Industries: Capitalizing Diverse Segments

PPG Industries managed to exceed analyst expectations in terms of revenue as well as earnings. PPG's strong posture in these end-use areas...

Baptista Research

PPG Industries Inc.: A Decent Performer Despite Weak Demand – Key Drivers

Despite macro-challenges like weak global industrial activity, high cost inflation, ongoing geopolitical issues, and waning demand in U.S....

Baptista Research

PPG Industries Inc.: Detailed Credit Analysis & Financial Strength Evaluation Report

PPG is a renowned manufacturer and distributor of paints, coatings and specialty materials. The company's recent financial performance has been...

Baptista Research

PPG Industries Inc.: Initiation of Coverage – Business Model & Key Drivers

This is our first report on PPG, a well-known manufacturer of paints, coatings and specialty materials. The company performed well in several of...

Baptista Research

Time to Get Defensive After 1.5-Month Uptrend Breaks; High Yield Spreads Widening Much Like Mid-Aug.

Our targets for this bear rally have been hit, which were the 200-day MAs on $IWM and $SPX (within 0.5%). Now seeing short-term uptrend breaks on...

Vermilion Research

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