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 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

Crypto in Sports, Sporting Crypto

Sporting Crypto

Crypto in Sports

Breaking down the intersection between Sports and Crypto

Intersection Between Sports and Crypto

<ul><li>Starbucks have launched a Web3 loyalty program called Odyssey.</li><li>Members can engage in ‘journeys’, a series of activities, such as playing interactive games or taking on fun challenges to deepen their knowledge of coffee and Starbucks.</li><li>They will be rewarded with a digital collectable ‘journey stamp’ — and yep, you guessed it — they’re NFTs.</li></ul>

Starbucks have launched a Web3 loyalty program called Odyssey.Members can engage in ‘journeys’, a series of activities, such as playing interactive games or taking on fun challenges to deepen their knowledge of coffee and Starbucks.They will be rewarded with a digital collectable ‘journey stamp’ — and yep, you guessed it — they’re NFTs.

Sporting Crypto - Dec 12th: Starbucks Launch Web3 Loyalty Program; Odyssey

High Quality Stock Setups, Weekly Stock Bull Finder

Weekly Stock Bull Finder

High Quality Stock Setups

Finding high potential stock setups on quality companies

Melco Resorts & Entertainment / Equity Bottom-Up

<ul><li>As investors we are faced with a deluge of noisy breaking news, business media talking heads, and what has felt like non-stop Fed speakers offering their differing views on the economy and the path of rate hikes going in 2023. </li><li>This week was no different. Fed Chair Jay Powell was front and center suggesting that interest rate hikes will likely be stepped down to 50bps in the upcoming December Fed meeting in a few weeks. </li><li>This was already discounted and expected by the market and effectively didn’t offer much of anything Wall St. didn’t already know.</li></ul>

As investors we are faced with a deluge of noisy breaking news, business media talking heads, and what has felt like non-stop Fed speakers offering their differing views on the economy and the path of rate hikes going in 2023. This week was no different. Fed Chair Jay Powell was front and center suggesting that interest rate hikes will likely be stepped down to 50bps in the upcoming December Fed meeting in a few weeks. This was already discounted and expected by the market and effectively didn’t offer much of anything Wall St. didn’t already know.

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 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

Sporting Crypto - Dec 12th: Starbucks Launch Web3 Loyalty Program; Odyssey

Members can engage in ‘journeys’, a series of activities, such as playing interactive games or taking on fun challenges to deepen their knowledge...

Sporting Crypto

Weekly Stock Bullfinder - Week of 12/5

As investors we are faced with a deluge of noisy breaking news, business media talking heads, and what has felt like non-stop Fed speakers offering...

Weekly Stock Bull Finder

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