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>PriceSmart, Inc.'s latest earnings for the fourth quarter of fiscal year 2025 painted a complex picture of the company's financial health and strategic initiatives.</li><li>On the positive side, the company reported solid growth in both net merchandise sales and revenue, with total net merchandise sales reaching nearly $5.2 billion for the fiscal year, marking a 7.7% year-over-year increase.</li><li>Notably, this growth was largely driven by the successful expansion of their club network and enhanced digital sales channels.</li></ul>

PriceSmart, Inc.'s latest earnings for the fourth quarter of fiscal year 2025 painted a complex picture of the company's financial health and strategic initiatives.On the positive side, the company reported solid growth in both net merchandise sales and revenue, with total net merchandise sales reaching nearly $5.2 billion for the fiscal year, marking a 7.7% year-over-year increase.Notably, this growth was largely driven by the successful expansion of their club network and enhanced digital sales channels.

Is PriceSmart Winning the Digital Race? — A 21.6% Surge in Online Sales Signals Massive Momentum!

<ul><li>PriceSmart, Inc.'s third quarter of fiscal year 2025 results provide a comprehensive view of the company's operational and financial performance, highlighting both growth opportunities and challenges.</li><li>The company recorded a robust increase in net merchandise sales, reaching almost $1.3 billion for the quarter and over $3.8 billion for the first nine months of the fiscal year, marking an 8% increase.</li><li>This growth was noted across all segments, with Central America, the Caribbean, and Colombia showing positive comparable net merchandise sales, even as currency volatility continues to influence revenue figures.</li></ul>

PriceSmart, Inc.'s third quarter of fiscal year 2025 results provide a comprehensive view of the company's operational and financial performance, highlighting both growth opportunities and challenges.The company recorded a robust increase in net merchandise sales, reaching almost $1.3 billion for the quarter and over $3.8 billion for the first nine months of the fiscal year, marking an 8% increase.This growth was noted across all segments, with Central America, the Caribbean, and Colombia showing positive comparable net merchandise sales, even as currency volatility continues to influence revenue figures.

PriceSmart Inc.: Digital Strategy & Omni-Channel Integration to Potentially Increase Online Sales & Strengthen Customer Loyalty!

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 intermediate-term outlook remains bearish/cautious, and we continue to believe a prolonged downturn is likely, which has been the case since our 4/1/25 Compass. However, shorter-term...</li>
<li>SPX is now 4.5%-5.0% lower than last week (when we said to expect the rally to fizzle), and is testing 5100-5120 support.</li>
<li>5100-5120 has been a key level several times dating back to early 2024, and is a level to trade against to the long side.</li>
</ul>


Our intermediate-term outlook remains bearish/cautious, and we continue to believe a prolonged downturn is likely, which has been the case since our 4/1/25 Compass. However, shorter-term...
SPX is now 4.5%-5.0% lower than last week (when we said to expect the rally to fizzle), and is testing 5100-5120 support.
5100-5120 has been a key level several times dating back to early 2024, and is a level to trade against to the long side.


Upgrading Consumer Staples to Overweight; Short-Term Bottom Potential Here

Bespoke Research on China and neighbouring regions, Bixmoor

Bixmoor

Bespoke Research on China and neighbouring regions

Bixmoor specialises in providing bespoke research to business, governments and the financial community on China and neighbouring regions. We seek to build long-term relationships with our clients, based on our expertise, our reliability and our determination to find the right solution.

Thematic (Sector/Industry)

Should we be concerned that a Chinese pork producer is buying the largest hog producer in the US? Growing concerns over food safety and problems with antibiotic resistance due to misuse should be taken seriously.

Should we be concerned that a Chinese pork producer is buying the largest hog producer in the US? Growing concerns over food safety and problems with antibiotic resistance due to misuse should be taken seriously.

Asean-focused. Ex-Head of Thai Research

Athaporn Arayasantiparb, CFA

In this review, we highlight 5 Thai stocks that could potentially do well in the Donald December 2016, the last Christmas Obama will get to celebrate from the White House. In terms of updates, we collected news and snippets from NY Times and other publications about who the potential Trump cabinet could include in 2017. Honestly, the actual composition of the Cabinet is unlikely to have much impact on Thai equities, but MCorp Review has followed the US elections for so long it makes sense to go…

In this review, we highlight 5 Thai stocks that could potentially do well in the Donald December 2016, the last Christmas Obama will get to celebrate from the White House. In terms of updates, we collected news and snippets from NY Times and other publications about who the potential Trump cabinet could include in 2017. Honestly, the actual composition of the Cabinet is unlikely to have much impact on Thai equities, but MCorp Review has followed the US elections for so long it makes sense to go…

United States

PriceSmart, Inc. owns and manages international merchandising businesses. The Company licenses and owns membership stores using the trade name PriceSmart and PriceCostco. PriceSmart's international market consists of Latin America and Asia. The Company also operates domestic merchandising programs, including its Auto Referral Program and its Travel Program.

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Pricesmart Inc (PSMT US)

Is PriceSmart Winning the Digital Race? — A 21.6% Surge in Online Sales Signals Massive Momentum!

PriceSmart, Inc.'s latest earnings for the fourth quarter of fiscal year 2025 painted a complex picture of the company's financial health and...

Baptista Research

PriceSmart Inc.: Digital Strategy & Omni-Channel Integration to Potentially Increase Online Sales & Strengthen Customer Loyalty!

PriceSmart, Inc.'s third quarter of fiscal year 2025 results provide a comprehensive view of the company's operational and financial performance,...

Baptista Research

Upgrading Consumer Staples to Overweight; Short-Term Bottom Potential Here

Upgrading Consumer Staples $XLP to Overweight; Still Intermediate-Term Bearish/Cautious, But use 5100-5120 on $SPX as a stop loss and a level to...

Vermilion Research

Issues Raised by WH Group and US Pork

Should we be concerned that a Chinese pork producer is buying the largest hog producer in the US? Growing concerns over food safety and problems...

Bixmoor

5 Stock Picks for Santa Trump

In this review, we highlight 5 Thai stocks that could potentially do well in the Donald December 2016, the last Christmas Obama will get to...

Athaporn Arayasantiparb, CFA

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