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>Sabre Corporation's latest financial update provides a mixed outlook, reflecting both the strengths and challenges the company faces as it moves forward.</li><li>In 2024, Sabre reported notable achievements, including a 4% year-on-year revenue increase reaching $3.03 billion and a substantial 53% rise in adjusted EBITDA to $517 million, surpassing initial guidance.</li><li>The company credits its growth to steady revenue increases, cost management, and major commercial wins, all contributing to margin expansions and enhanced operational efficiency.</li></ul>

Sabre Corporation's latest financial update provides a mixed outlook, reflecting both the strengths and challenges the company faces as it moves forward.In 2024, Sabre reported notable achievements, including a 4% year-on-year revenue increase reaching $3.03 billion and a substantial 53% rise in adjusted EBITDA to $517 million, surpassing initial guidance.The company credits its growth to steady revenue increases, cost management, and major commercial wins, all contributing to margin expansions and enhanced operational efficiency.

Sabre Corporation: Can Its Modern Technology Infrastructure & AI Integration Aid In Strengthening Competitive Position?

<ul><li>Sabre Corporation's third-quarter 2024 financial results highlight both positive developments and ongoing challenges.</li><li>The company reported steady year-on-year revenue growth, driven primarily by a notable acceleration in Air Distribution bookings and other business segments.</li><li>Air Distribution bookings saw a modest increase, suggesting a strengthening market position, which contributed to a rise in average booking fees.</li></ul>

Sabre Corporation's third-quarter 2024 financial results highlight both positive developments and ongoing challenges.The company reported steady year-on-year revenue growth, driven primarily by a notable acceleration in Air Distribution bookings and other business segments.Air Distribution bookings saw a modest increase, suggesting a strengthening market position, which contributed to a rise in average booking fees.

Sabre Corporation: Tech Transformation & Cost Efficiency Are The Key To Its Financial Future! - Major Drivers

Global Mobility/Transport, Equity Long-Short

Mohshin Aziz

Travelsky Technology Ltd H / Equity Bottom-Up

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<li>
<a href="https://www.smartkarma.com/entities/travelsky-technology-ltd-h" target="_blank" data-smartkarma-citation="entities:19829:1" rel="noopener">Travelsky Technology Ltd H (696 HK)</a> (TravelSky) issued its 2023 operating statistics and a profit warning that is far below market expectations, the share price has plunged by 36% </li>
<li>Our analysis suggests that staff cost, commission, and systems costs have soared. This will be contained when traffic accelerates and absorbs these fixed cost items </li>
<li>Our target price of HKD9.92 <strong>(+21% UPSIDE)</strong> is based on 2024 PE 14.8x (1SD below mean). Keep an eye, worthwhile trade, due for a bounce    </li>
</ul>



Travelsky Technology Ltd H (696 HK) (TravelSky) issued its 2023 operating statistics and a profit warning that is far below market expectations, the share price has plunged by 36% 
Our analysis suggests that staff cost, commission, and systems costs have soared. This will be contained when traffic accelerates and absorbs these fixed cost items 
Our target price of HKD9.92 (+21% UPSIDE) is based on 2024 PE 14.8x (1SD below mean). Keep an eye, worthwhile trade, due for a bounce    


Travelsky (696 HK | BUY | TP:HKD9.92): Forget 2023, Think of 2024-25 Which Will Be Much Better

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

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

Event-Driven

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<li>
<a href="https://www.smartkarma.com/entities/coforge-ltd" target="_blank" data-smartkarma-citation="entities:8639:1" rel="noopener">Coforge (COFORGE IN)</a>'s $1.56 billion deal with Sabre positions it as a major player in travel technology, but concerns over Sabre’s financial stability create potential risks for long-term execution.</li>
<li>Acquisitions of Rythmos and TMLabs align with Coforge’s strategy to enhance cloud, data, and enterprise IT capabilities, strengthening its market position in airline and ServiceNow implementation services.</li>
<li>While analysts recognize strong revenue visibility, Sabre’s $5.1 billion debt and negative net worth raise cash flow concerns, leading to a divided outlook on Coforge’s future profitability and risk exposure.</li>
</ul>



Coforge (COFORGE IN)'s $1.56 billion deal with Sabre positions it as a major player in travel technology, but concerns over Sabre’s financial stability create potential risks for long-term execution.
Acquisitions of Rythmos and TMLabs align with Coforge’s strategy to enhance cloud, data, and enterprise IT capabilities, strengthening its market position in airline and ServiceNow implementation services.
While analysts recognize strong revenue visibility, Sabre’s $5.1 billion debt and negative net worth raise cash flow concerns, leading to a divided outlook on Coforge’s future profitability and risk exposure.


Coforge’s $1.56 Billion Bet: A Game-Changer or a Risky Move?

<ul><li>Sabre Corporation recently announced its second quarter 2024 financial results, exceeding initial forecasts and setting a positive trajectory towards achieving its strategic and financial objectives.</li><li>The company reported steady revenue growth, a substantial increase in adjusted EBITDA, margin expansion, and generated positive second quarter free cash flow for the first time in five years, leading Sabre to revise its full-year 2024 revenue and adjusted EBITDA guidance upwards.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Sabre Corporation recently announced its second quarter 2024 financial results, exceeding initial forecasts and setting a positive trajectory towards achieving its strategic and financial objectives.The company reported steady revenue growth, a substantial increase in adjusted EBITDA, margin expansion, and generated positive second quarter free cash flow for the first time in five years, leading Sabre to revise its full-year 2024 revenue and adjusted EBITDA guidance upwards.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Sabre Corporation: Expansion into NDC & Multisource Platform & Development of SabreMosaic Can Revolutionize Growth? - Major Drivers

United States

Sabre Corporation provides technology solutions to the global travel and tourism industry. The Company offers tours and travel services, as well as, online reservations for airlines, hotels, cruises, car rental companies, and vacation packages.

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Sabre Corp (SABR US)

Sabre Corporation: Can Its Modern Technology Infrastructure & AI Integration Aid In Strengthening Competitive Position?

Sabre Corporation's latest financial update provides a mixed outlook, reflecting both the strengths and challenges the company faces as it moves...

Baptista Research

Sabre Corporation: Tech Transformation & Cost Efficiency Are The Key To Its Financial Future! - Major Drivers

Sabre Corporation's third-quarter 2024 financial results highlight both positive developments and ongoing challenges. The company reported steady...

Baptista Research

Travelsky (696 HK | BUY | TP:HKD9.92): Forget 2023, Think of 2024-25 Which Will Be Much Better

Travelsky issued a profit warning, causing a 36% drop in its share price. Our analysis suggests costs will eventually be in control when traffic...

Mohshin Aziz

Coforge’s $1.56 Billion Bet: A Game-Changer or a Risky Move?

Coforge's $1.56 billion deal with Sabre boosts its travel tech presence, but concerns over Sabre's financial stability pose risks for long-term...

Nimish Maheshwari

Sabre Corporation: Expansion into NDC & Multisource Platform & Development of SabreMosaic Can Revolutionize Growth? - Major Drivers

Sabre Corporation recently announced its second quarter 2024 financial results, exceeding initial forecasts and setting a positive trajectory...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Sabre Corporation: Can Its Modern Technology Infrastructure & AI Integration Aid In Strengthening Competitive Position?

Sabre Corporation's latest financial update provides a mixed outlook, reflecting both the strengths and challenges the company faces as it moves...

Baptista Research

Sabre Corporation: Tech Transformation & Cost Efficiency Are The Key To Its Financial Future! - Major Drivers

Sabre Corporation's third-quarter 2024 financial results highlight both positive developments and ongoing challenges. The company reported steady...

Baptista Research

Travelsky (696 HK | BUY | TP:HKD9.92): Forget 2023, Think of 2024-25 Which Will Be Much Better

​Travelsky issued a profit warning, causing a 36% drop in its share price. Our analysis suggests costs will eventually be in control when traffic...

Mohshin Aziz

Coforge’s $1.56 Billion Bet: A Game-Changer or a Risky Move?

​Coforge's $1.56 billion deal with Sabre boosts its travel tech presence, but concerns over Sabre's financial stability pose risks for long-term...

Nimish Maheshwari

Sabre Corporation: Expansion into NDC & Multisource Platform & Development of SabreMosaic Can Revolutionize Growth? - Major Drivers

Sabre Corporation recently announced its second quarter 2024 financial results, exceeding initial forecasts and setting a positive trajectory...

Baptista Research

Travelsky issued a profit warning, causing a 36% drop in its share price. Our analysis suggests costs will eventually be in control when traffic...

Coforge's $1.56 billion deal with Sabre boosts its travel tech presence, but concerns over Sabre's financial stability pose risks for long-term...