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>SBA Communications Corporation's Q3 2025 earnings call indicates both positive and challenging elements for investors to consider.</li><li>The company reported robust financial performance, with industry-leading adjusted funds from operations (AFFO) per share, driven by strong leasing demand in both the U.S. and international markets.</li><li>This performance has prompted a modest increase in the full-year outlook for leasing activity and revenue growth, highlighting the ongoing expansion in network footprints, particularly through new colocations.</li></ul>

SBA Communications Corporation's Q3 2025 earnings call indicates both positive and challenging elements for investors to consider.The company reported robust financial performance, with industry-leading adjusted funds from operations (AFFO) per share, driven by strong leasing demand in both the U.S. and international markets.This performance has prompted a modest increase in the full-year outlook for leasing activity and revenue growth, highlighting the ongoing expansion in network footprints, particularly through new colocations.

SBA Communications: An Insight Into Its International Churn Reduction & Other Major Drivers

Smartkarma AI, Smartkarma

αSK

Smartkarma AI

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
 <li>SBA Communications is a leading independent owner and operator of wireless communications infrastructure, positioning it as a key beneficiary of the secular growth in mobile data consumption and the ongoing deployment of 5G networks.</li>
 <li>The company's business model is anchored by long-term, non-cancellable leases with major wireless carriers, providing highly predictable, recurring revenue streams and strong operating leverage.</li>
 <li>While facing near-term headwinds from carrier consolidation and a rising interest rate environment, SBAC's strategic focus on operational efficiency, disciplined capital allocation, and shareholder returns through consistent dividend growth presents a compelling long-term investment case.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  SBA Communications is a leading independent owner and operator of wireless communications infrastructure, positioning it as a key beneficiary of the secular growth in mobile data consumption and the ongoing deployment of 5G networks.
  The company's business model is anchored by long-term, non-cancellable leases with major wireless carriers, providing highly predictable, recurring revenue streams and strong operating leverage.
  While facing near-term headwinds from carrier consolidation and a rising interest rate environment, SBAC's strategic focus on operational efficiency, disciplined capital allocation, and shareholder returns through consistent dividend growth presents a compelling long-term investment case.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Sba Communications (SBAC US) - Sep 2025

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>SBAC is a global leader in wireless communications infrastructure, capitalizing on the growing demand for data consumption in the mobile cellular industry</li><li>Company has outperformed peers with a 15% IRR since its IPO in 1999, attributed to strategic positioning, solid business model, and skilled team</li><li>Positioned to continue benefiting from rising data demand, offering investors a promising opportunity to benefit from its success</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

SBAC is a global leader in wireless communications infrastructure, capitalizing on the growing demand for data consumption in the mobile cellular industryCompany has outperformed peers with a 15% IRR since its IPO in 1999, attributed to strategic positioning, solid business model, and skilled teamPositioned to continue benefiting from rising data demand, offering investors a promising opportunity to benefit from its successThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Sba Communications Corp (SBAC) - Thursday, Jun 20, 2024

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/jtower-inc" target="_blank" data-smartkarma-citation="entities:31042:1" rel="noopener">JTower (4485 JP)</a> has recommended a tender offer from <a href="https://www.smartkarma.com/entities/digitalbridge-group-inc" target="_blank" data-smartkarma-citation="entities:20231:1" rel="noopener">DigitalBridge Group (DBRG US)</a> at JPY3,600, a 161.8% premium to the undisturbed price of JPY1,375 (13 August). </li>
<li>Despite the hefty takeover premium, the offer is light (compared to historical trading ranges and the recent placement) and opportunistically timed (the share price has fallen 61% since 9 May). </li>
<li>Nevertheless, barring a spurt of activism, the offer should succeed as the required 40.7% minority acceptance rate is not onerous and should be comfortably met by Japanese cross-holders.    </li>
</ul>



JTower (4485 JP) has recommended a tender offer from DigitalBridge Group (DBRG US) at JPY3,600, a 161.8% premium to the undisturbed price of JPY1,375 (13 August). 
Despite the hefty takeover premium, the offer is light (compared to historical trading ranges and the recent placement) and opportunistically timed (the share price has fallen 61% since 9 May). 
Nevertheless, barring a spurt of activism, the offer should succeed as the required 40.7% minority acceptance rate is not onerous and should be comfortably met by Japanese cross-holders.    


JTOWER (4485 JP): DigitalBridge’s 162% Takeover Premium Offer Is Opportunistic

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

US Treasury (10 Yr Generic) / Technical Analysis

<ul>
<li>Our bottom line is that we could not be bearish as long as the IWM is above $208, the IWC is above $134-$135, and the S&amp;P 500 is above 4495.</li>
<li>These support levels have held strong, and we are now seeing the aforementioned risk-off signals starting to abate.</li>
<li>This is an encouraging sign and we remain constructive as long as the above support levels hold.</li>
</ul>


Our bottom line is that we could not be bearish as long as the IWM is above $208, the IWC is above $134-$135, and the S&amp;P 500 is above 4495.
These support levels have held strong, and we are now seeing the aforementioned risk-off signals starting to abate.
This is an encouraging sign and we remain constructive as long as the above support levels hold.


Risk-Off Signals Abating; Cyclicals Reassert as Rates Rise; Buying Fertilizer and Copper Stocks

United States

SBA Communications Corporation owns and operates wireless communications infrastructure in the United States. The Company offers site leasing and development, construction, and consulting services. SBA Communications leases antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts.

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Sba Communications (SBAC US)

SBA Communications: An Insight Into Its International Churn Reduction & Other Major Drivers

SBA Communications Corporation's Q3 2025 earnings call indicates both positive and challenging elements for investors to consider. The company...

Baptista Research

Primer: Sba Communications (SBAC US) - Sep 2025

SBA Communications is a leading independent owner and operator of wireless communications infrastructure, positioning it as a key beneficiary of...

αSK

Sba Communications Corp (SBAC) - Thursday, Jun 20, 2024

SBAC is a global leader in wireless communications infrastructure, capitalizing on the growing demand for data consumption in the mobile cellular...

Value Investors Club (VIC)

JTOWER (4485 JP): DigitalBridge’s 162% Takeover Premium Offer Is Opportunistic

Despite the hefty takeover premium, the offer is light and opportunistically timed. Nevertheless, barring the emergence of activists, there seems...

Arun George

Risk-Off Signals Abating; Cyclicals Reassert as Rates Rise; Buying Fertilizer and Copper Stocks

Risk-off signals are abating which is an encouraging sign. Charts Highlighted: IWM, IWC, JETS, BAM, CBRE, INVH, JLL, HHC, JOE, MMI, APTS, CTO, AMT,...

Vermilion Research

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