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>Starbucks is back in the acquisition spotlight, and the company reportedly under consideration is one Brian Niccol knows particularly well.</li><li>Reports suggest Starbucks has explored acquiring Chipotle Mexican Grill, the fast-casual restaurant chain Niccol led for six years before becoming Starbucks CEO in 2024.</li><li>Starbucks has reportedly worked with advisers on a potential transaction, although no formal offer or definitive agreement has been announced.</li></ul>

Starbucks is back in the acquisition spotlight, and the company reportedly under consideration is one Brian Niccol knows particularly well.Reports suggest Starbucks has explored acquiring Chipotle Mexican Grill, the fast-casual restaurant chain Niccol led for six years before becoming Starbucks CEO in 2024.Starbucks has reportedly worked with advisers on a potential transaction, although no formal offer or definitive agreement has been announced.

Starbucks' $50 Billion Chipotle Gamble: Why Brian Niccol's Timing Raises Questions!

<ul><li>Starbucks is preparing to close roughly 250 underperforming North American coffeehouses, marking its second major round of store reductions under CEO Brian Niccol and raising an uncomfortable question for one of America's most recognizable consumer brands: are customers losing their appetite for Starbucks?</li><li>The closures form part of a broader restructuring that is expected to generate roughly $300 million in charges, while management is simultaneously pursuing $2 billion in gross cost savings through fiscal 2028.</li><li>Yet the latest operating numbers complicate any simple decline narrative.</li></ul>

Starbucks is preparing to close roughly 250 underperforming North American coffeehouses, marking its second major round of store reductions under CEO Brian Niccol and raising an uncomfortable question for one of America's most recognizable consumer brands: are customers losing their appetite for Starbucks?The closures form part of a broader restructuring that is expected to generate roughly $300 million in charges, while management is simultaneously pursuing $2 billion in gross cost savings through fiscal 2028.Yet the latest operating numbers complicate any simple decline narrative.

Starbucks Is Closing 250 Stores—Is America Falling Out Of Love With Starbucks?

<ul><li>Starbucks Corporation reported third-quarter fiscal 2026 results showing continued improvement in sales, profitability, and operating execution under its “Back to Starbucks” strategy, which emphasizes customer experience, service consistency, and efficiency.</li><li>Consolidated net revenue was $9.3 billion, down 1% year over year, primarily because China retail operations shifted to a licensed joint venture structure.</li><li>Despite the reported decline, global comparable-store sales rose 7.9%, the fourth consecutive quarter of positive growth, supported by gains in transactions and average ticket across several dayparts and customer segments.</li></ul>

Starbucks Corporation reported third-quarter fiscal 2026 results showing continued improvement in sales, profitability, and operating execution under its “Back to Starbucks” strategy, which emphasizes customer experience, service consistency, and efficiency.Consolidated net revenue was $9.3 billion, down 1% year over year, primarily because China retail operations shifted to a licensed joint venture structure.Despite the reported decline, global comparable-store sales rose 7.9%, the fourth consecutive quarter of positive growth, supported by gains in transactions and average ticket across several dayparts and customer segments.

Starbucks Corporation’s $2 Billion Turnaround: Can 'Back To Starbucks' Sustain The Recovery?

Independent in-depth research from Finimize, Finimize

Finimize Research

Independent in-depth research from Finimize

Finimize

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Thematic (Sector/Industry)

<ul>
<li>The US economy’s resilience hasn’t come from the many – it’s come from the top 10% as the “wealth effect” from rising asset prices has boosted spending.</li>
<li>But it works in reverse too.  Since the richest make up nearly half of America’s consumer spending, that could lead to a serious economic fallout.</li>
<li>It’s worth considering protecting your portfolio. I’ve pulled together one list of companies that should do well and another that could suffer from the change in climate.</li>
</ul>


The US economy’s resilience hasn’t come from the many – it’s come from the top 10% as the “wealth effect” from rising asset prices has boosted spending.
But it works in reverse too.  Since the richest make up nearly half of America’s consumer spending, that could lead to a serious economic fallout.
It’s worth considering protecting your portfolio. I’ve pulled together one list of companies that should do well and another that could suffer from the change in climate.


A Defensive Portfolio Prepared For The Wealth Effect’s Reversal

<ul><li>Starbucks is suddenly looking less like a traditional coffeehouse operator and more like a global brand owner learning how to monetize mature markets while still chasing store growth.</li><li>The latest twist is Japan, where the company is reportedly exploring strategic options that could include a partial stake sale or public listing at a valuation of roughly $2.5 billion to $3.1 billion.</li><li>That follows the China transaction with Boyu Capital, which shifted Starbucks China into a joint venture structure and brought in approximately $3.1 billion in gross cash proceeds before taxes.</li></ul>

Starbucks is suddenly looking less like a traditional coffeehouse operator and more like a global brand owner learning how to monetize mature markets while still chasing store growth.The latest twist is Japan, where the company is reportedly exploring strategic options that could include a partial stake sale or public listing at a valuation of roughly $2.5 billion to $3.1 billion.That follows the China transaction with Boyu Capital, which shifted Starbucks China into a joint venture structure and brought in approximately $3.1 billion in gross cash proceeds before taxes.

Starbucks May Be Selling Pieces Of Its Empire — & Investors Love It!

United States

Starbucks Corporation retails, roasts, and provides its own brand of specialty coffee. The Company operates retail locations worldwide and sells whole bean coffees through its sales group, direct response business, supermarkets, and on the World Wide Web. Starbucks also produces and sells bottled coffee drinks and a line of ice creams.

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Starbucks Corp (SBUX US)

Starbucks' $50 Billion Chipotle Gamble: Why Brian Niccol's Timing Raises Questions!

Starbucks is back in the acquisition spotlight, and the company reportedly under consideration is one Brian Niccol knows particularly...

Baptista Research

Starbucks Is Closing 250 Stores—Is America Falling Out Of Love With Starbucks?

Starbucks is preparing to close roughly 250 underperforming North American coffeehouses, marking its second major round of store reductions under...

Baptista Research

Starbucks Corporation’s $2 Billion Turnaround: Can 'Back To Starbucks' Sustain The Recovery?

Starbucks Corporation reported third-quarter fiscal 2026 results showing continued improvement in sales, profitability, and operating execution...

Baptista Research

A Defensive Portfolio Prepared For The Wealth Effect’s Reversal

The top 10% account for around 50% of consumer spending in the US. This insight looks at the sectors and companies that could win and lose from the...

Finimize Research

Starbucks May Be Selling Pieces Of Its Empire — & Investors Love It!

Starbucks is suddenly looking less like a traditional coffeehouse operator and more like a global brand owner learning how to monetize mature...

Baptista Research

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