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 Corporation delivered mixed results in the quarter, with revenues below Wall Street expectations but managed a significant earnings beat.</li><li>In North America, the company's revenue growth was driven by strong same-store sales and operational improvements.</li><li>Starbucks' digital strategy, mainly through Starbucks Rewards, showed good growth, reflecting the brand's strength in key markets.</li></ul>

Starbucks Corporation delivered mixed results in the quarter, with revenues below Wall Street expectations but managed a significant earnings beat.In North America, the company's revenue growth was driven by strong same-store sales and operational improvements.Starbucks' digital strategy, mainly through Starbucks Rewards, showed good growth, reflecting the brand's strength in key markets.

Starbucks Corporation: From Digital Dominance to Chinese Conquest – What's Next? - Major Drivers

Managing Partner, VRS (Valuation & Research Specialists)

VRS (Valuation & Research Specialists)

Managing Partner

Valuation & Research Specialists (VRS) is a boutique financial advisor with more than 17 years of experience in Corporate Valuation and Finance, and a diversified client base including some of the largest Companies in Greece.

Since 2002, VRS has completed more than 200 engagements in the areas of business valuation and financial analysis for more than 100 clients in a wide range of industries.

VRS has been honored to work with small and large private and publicly traded companies in Europe and overseas.

Boutique Financial Advisor

<ul><li>Starbucks Corp. is a roaster, marketer, and retailer of specialty coffee with operations in approximately 83 markets.</li><li>It has over 35,000 Company-operated and licensed stores.</li><li>It operates through three segments: North America, which includes the United States and Canada; International, which includes China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America, and the Caribbean; and Channel Development.</li></ul>

Starbucks Corp. is a roaster, marketer, and retailer of specialty coffee with operations in approximately 83 markets.It has over 35,000 Company-operated and licensed stores.It operates through three segments: North America, which includes the United States and Canada; International, which includes China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America, and the Caribbean; and Channel Development.

Technical Analysis on Starbucks Corp.  -  April 6, 2023

<ul><li>Starbucks Corporation delivered a strong performance in the quarter and managed an all-around beat.</li><li>The company achieved double-digit comp in all company-operated markets, driven by a stronger-than-expected recovery and observed ongoing momentum in its licensed markets.</li><li>The primary drivers of revenue growth were comparable store sales, the year-over-year increase in net new company-operated stores, and the sustained momentum in the company's worldwide license to market.</li></ul>

Starbucks Corporation delivered a strong performance in the quarter and managed an all-around beat.The company achieved double-digit comp in all company-operated markets, driven by a stronger-than-expected recovery and observed ongoing momentum in its licensed markets.The primary drivers of revenue growth were comparable store sales, the year-over-year increase in net new company-operated stores, and the sustained momentum in the company's worldwide license to market.

Starbucks Corporation: Solid Customer Loyalty Through The Rewards Program & Other Drivers

Greater China Equity Long/Short Analyst

Eric Chen

Focus Media Information Technology Co, Ltd. / Equity Bottom-Up

Focus Media Information Technology Co, Ltd.

<ul>
<li>Urbanization and brand premiumization are Focus Media's two long term structural drivers which will keep broadening its audience and advertiser base.</li>
<li>1Q23 results end a 5-quarter streak of profit decline and  mark the start of new profit cycle. This will usher in a meaningful stock re-rating if history is a guide.  </li>
<li>We expect at least 30% upside by the end of 2023 by applying 25x P/E (still at large discount to last profit cycle) on RMB4.9 billion net profit for 2023. </li>
</ul>


Urbanization and brand premiumization are Focus Media's two long term structural drivers which will keep broadening its audience and advertiser base.
1Q23 results end a 5-quarter streak of profit decline and  mark the start of new profit cycle. This will usher in a meaningful stock re-rating if history is a guide.  
We expect at least 30% upside by the end of 2023 by applying 25x P/E (still at large discount to last profit cycle) on RMB4.9 billion net profit for 2023. 


Focus Media (002027 CH): Light at the End of Tunnel

<ul><li>Starbucks delivered a disappointing set of results as it failed to meet Wall Street expectations in terms of revenues as well as earnings.</li><li>The U.S. company-operated stores Starbucks have a decent revenue in the quarter, and so did North America overall.</li><li>In the quarter, it launched its first Starbucks reward named Reward Together partnership with Delta Airlines.</li></ul>

Starbucks delivered a disappointing set of results as it failed to meet Wall Street expectations in terms of revenues as well as earnings.The U.S. company-operated stores Starbucks have a decent revenue in the quarter, and so did North America overall.In the quarter, it launched its first Starbucks reward named Reward Together partnership with Delta Airlines.

Starbucks Corporation: Web3 Odyssey Program & Other Drivers

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Starbucks Corp (SBUX US)

Starbucks Corporation: From Digital Dominance to Chinese Conquest – What's Next? - Major Drivers

Starbucks Corporation delivered mixed results in the quarter, with revenues below Wall Street expectations but managed a significant earnings...

Baptista Research

Technical Analysis on Starbucks Corp. - April 6, 2023

Starbucks Corp. is a roaster, marketer, and retailer of specialty coffee with operations in approximately 83 markets. It has over 35,000 Company...

VRS (Valuation & Research Specialists)

Starbucks Corporation: Solid Customer Loyalty Through The Rewards Program & Other Drivers

Starbucks Corporation delivered a strong performance in the quarter and managed an all-around beat. The company achieved double-digit comp in all...

Baptista Research

Focus Media (002027 CH): Light at the End of Tunnel

1Q23 results of Focus Media mark the start of a new profit cycle which will result in at least 30% upside for the stock by end 2023.

Eric Chen

Starbucks Corporation: Web3 Odyssey Program & Other Drivers

Starbucks delivered a disappointing set of results as it failed to meet Wall Street expectations in terms of revenues as well as earnings. The...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)