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>Target Corporation reported its second-quarter 2025 results amid significant organizational and market transitions.</li><li>The earnings call highlighted several strategic updates, shedding light on the company's current performance and future direction.</li><li>A key focal point was the leadership transition announcement, where Target's Board elected Michael Fiddelke as the next CEO, effective at the start of the 2026 fiscal year.</li></ul>

Target Corporation reported its second-quarter 2025 results amid significant organizational and market transitions.The earnings call highlighted several strategic updates, shedding light on the company's current performance and future direction.A key focal point was the leadership transition announcement, where Target's Board elected Michael Fiddelke as the next CEO, effective at the start of the 2026 fiscal year.

Target’s Big Partnerships: Will Starbucks, Disney, & Apple Help Fuel Their Much Needed Turnaround?

<ul><li>Target Corporation faced a set of challenging conditions in the first quarter of 2025, significantly impacting its overall performance.</li><li>The detailed analysis of the quarterly results reveals a balanced mix of positive aspects, setbacks, and strategic adjustments, offering investors insights into the company's current standing and future priorities.</li><li>First-quarter sales for Target declined by 2.8%, primarily driven by a decrease in comparable sales of 3.8%.</li></ul>

Target Corporation faced a set of challenging conditions in the first quarter of 2025, significantly impacting its overall performance.The detailed analysis of the quarterly results reveals a balanced mix of positive aspects, setbacks, and strategic adjustments, offering investors insights into the company's current standing and future priorities.First-quarter sales for Target declined by 2.8%, primarily driven by a decrease in comparable sales of 3.8%.

Target Corporation: Will Its Investments in Digital Fulfillment and Supply Chain Pay Off?

<ul><li>Target Corporation's recent financial presentation unveiled a comprehensive roadmap for potential growth, positioned against the backdrop of a mixed retail environment characterized by both challenges and opportunities.</li><li>Target emphasized its differentiated retail strategy, focusing on delivering on-trend, affordable products, aiming to capitalize on its unique brand position in the market often affectionately referred to as "Tarzhay" by its consumers.</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>

Target Corporation's recent financial presentation unveiled a comprehensive roadmap for potential growth, positioned against the backdrop of a mixed retail environment characterized by both challenges and opportunities.Target emphasized its differentiated retail strategy, focusing on delivering on-trend, affordable products, aiming to capitalize on its unique brand position in the market often affectionately referred to as "Tarzhay" by its consumers.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.

Target Corporation Paving The Way Forward With Digital Future With AI

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>The changes to the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a>, S&amp;P400 Index and S&amp;P600 Index will be announced after market close on Friday.</li>
<li>The conclusions of the market consultation to change the index weighting methodology for the Select Sector Indices to reduce concentration and avoid reverse turnover should also be announced.</li>
<li>Changes in the index weighting methodology will result in a round-trip trade of US$35bn across the Select Sector indices. The largest turnover is in the <a href="https://www.smartkarma.com/entities/consumer-staples-select-sector-spdr-fund" target="_blank" data-smartkarma-citation="entities:27536:1" rel="noopener">XLP</a> and <a href="https://www.smartkarma.com/entities/technology-select-sector-spdr" target="_blank" data-smartkarma-citation="entities:27543:1" rel="noopener">XLK</a>.</li>
</ul>


The changes to the S&amp;P 500 INDEX (SPX INDEX), S&amp;P400 Index and S&amp;P600 Index will be announced after market close on Friday.
The conclusions of the market consultation to change the index weighting methodology for the Select Sector Indices to reduce concentration and avoid reverse turnover should also be announced.
Changes in the index weighting methodology will result in a round-trip trade of US$35bn across the Select Sector indices. The largest turnover is in the XLP and XLK.


Select Sector Indices - Updated Flows as Round-Trip Trade Hits US$35bn

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Capital Markets

<ul>
<li>A recent report shows apparent gains by Temu against US "dollar" store chains</li>
<li>In this insight we introduce the "dollar" store concept and share our experiences</li>
<li>We conclude that Temu &amp; SHEIN don't likely view some categories as priorities</li>
</ul>


A recent report shows apparent gains by Temu against US "dollar" store chains
In this insight we introduce the "dollar" store concept and share our experiences
We conclude that Temu &amp; SHEIN don't likely view some categories as priorities


Temu Versus Dollar Tree: More Online & Offline Adventures in Pursuit of Ultra-Cheap Stuff

United States

Target Corporation operates general merchandise discount stores. The Company focuses on merchandising operations which includes general merchandise and food discount stores and a fully integrated online business. Target also offers credit to qualified applicants through its branded proprietary credit cards.

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Target Corp (TGT US)

Target’s Big Partnerships: Will Starbucks, Disney, & Apple Help Fuel Their Much Needed Turnaround?

Target Corporation reported its second-quarter 2025 results amid significant organizational and market transitions. The earnings call highlighted...

Baptista Research

Target Corporation: Will Its Investments in Digital Fulfillment and Supply Chain Pay Off?

Target Corporation faced a set of challenging conditions in the first quarter of 2025, significantly impacting its overall performance. The...

Baptista Research

Target Corporation Paving The Way Forward With Digital Future With AI

Target Corporation's recent financial presentation unveiled a comprehensive roadmap for potential growth, positioned against the backdrop of a...

Baptista Research

Select Sector Indices - Updated Flows as Round-Trip Trade Hits US$35bn

US$300bn tracks the Select Sector Indices. Implementation of proposed changes will set off a US$35bn trade. Apple could be bought by multiple...

Brian Freitas

Temu Versus Dollar Tree: More Online & Offline Adventures in Pursuit of Ultra-Cheap Stuff

In this insight, we introduce readers to the US "dollar" store concept, then compare our experiences shopping for cheap stuff at Dollar Tree and...

Tracking Traffic

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