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>TechnipFMC, an energy services company, has reported a strong performance in the first quarter of 2024, with total company revenue of $2 billion and adjusted EBITDA amounting to $257 million.</li>
<li>The company's inbound orders stood at $2.8 billion.</li>
<li>Important to note, substantial input was driven by newly introduced technologies, some of the industry-first stepping stones that aim to unlock opportunities in both new and mature offshore basins.</li>
</ul>


TechnipFMC, an energy services company, has reported a strong performance in the first quarter of 2024, with total company revenue of $2 billion and adjusted EBITDA amounting to $257 million.
The company's inbound orders stood at $2.8 billion.
Important to note, substantial input was driven by newly introduced technologies, some of the industry-first stepping stones that aim to unlock opportunities in both new and mature offshore basins.


TechnipFMC Plc: Significant Advantage of Its Carbon Capture and Storage (CCS) Technology!

<ul>
<li>TechnipFMC, an energy services company, reported strong financial results for its fourth quarter and full year 2023.</li>
<li>For the year, the company's total inbound orders increased to $11 billion, reflecting a growth of 45% compared to the previous year.</li>
<li>This was largely boosted by Subsea orders of $9.7 billion.</li>
</ul>


TechnipFMC, an energy services company, reported strong financial results for its fourth quarter and full year 2023.
For the year, the company's total inbound orders increased to $11 billion, reflecting a growth of 45% compared to the previous year.
This was largely boosted by Subsea orders of $9.7 billion.


TechnipFMC plc: Increased Visibility and Growth in Subsea Market! - Major Drivers

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

<ul>
<li>The bullish outlook for global equities (MSCI ACWI) that we initiated in early November 2023 remains intact; continue to ride this trend higher.</li>
<li>Many of the heavily-weighted countries in terms of global market capitalization (U.S., Europe, Japan) are extended; we'd welcome some consolidation, though it may come from higher levels.</li>
<li>Ultimately, market dynamics remain healthy, and we would treat pullbacks as buying opportunities. Downgrading India to market weight. Actionable Themes: Global Materials, Energy, Consumer Discretionary, and Industrials</li>
</ul>


The bullish outlook for global equities (MSCI ACWI) that we initiated in early November 2023 remains intact; continue to ride this trend higher.
Many of the heavily-weighted countries in terms of global market capitalization (U.S., Europe, Japan) are extended; we'd welcome some consolidation, though it may come from higher levels.
Ultimately, market dynamics remain healthy, and we would treat pullbacks as buying opportunities. Downgrading India to market weight. Actionable Themes: Global Materials, Energy, Consumer Discretionary, and Industrials


Bullish Outlook Intact; Downgrading India; Buys in Materials, Energy, Discretionary, Industrials

<ul>
<li>This is our first report on oil and gas services provider, TechnipFMC. The company's strong results in 2023 were marked by operational momentum and growth, with total company inbound for the year rising to $11 billion.</li>
<li>Subsea orders, in particular, increased by 45% compared to the prior year, reaching $9.7 billion.</li>
<li>It benefited from a record level of integrated Engineering, Procurement, Construction, and Installation (iEPCI) awards during the period.</li>
</ul>


This is our first report on oil and gas services provider, TechnipFMC. The company's strong results in 2023 were marked by operational momentum and growth, with total company inbound for the year rising to $11 billion.
Subsea orders, in particular, increased by 45% compared to the prior year, reaching $9.7 billion.
It benefited from a record level of integrated Engineering, Procurement, Construction, and Installation (iEPCI) awards during the period.


TechnipFMC: Initiation Of Coverage - Technological Innovation For Efficiency & 3 Key Drivers

<ul>
<li>We remain bullish global equities if the major $93 support level on MSCI ACWI (ACWI-US) continues to hold (1+ year base support and the 10.5-month uptrend)</li>
<li>The 10-year Treasury yield remains below 4.35% resistance (a positive), but the DXY is climbing above $103.70-$104.70 resistance, and $105.70 is the last line of defense (9-month resistance).</li>
<li>Japan and India remain top overweights, with many of today's buy recommendations from these countries (Real Estate, Energy, Tech/Services, Discretionary). Also downgrading Taiwan and Greece to market weight.</li>
</ul>


We remain bullish global equities if the major $93 support level on MSCI ACWI (ACWI-US) continues to hold (1+ year base support and the 10.5-month uptrend)
The 10-year Treasury yield remains below 4.35% resistance (a positive), but the DXY is climbing above $103.70-$104.70 resistance, and $105.70 is the last line of defense (9-month resistance).
Japan and India remain top overweights, with many of today's buy recommendations from these countries (Real Estate, Energy, Tech/Services, Discretionary). Also downgrading Taiwan and Greece to market weight.


Remain Overweight Japan and India; Key Supports Holding; Buys in Energy, Tech/Services (India)

United Kingdom

TechnipFMC plc provides oilfield services. The Company offers subsea, surface, onshore, and offshore solutions for oil and gas projects. TechnipFMC serves customers worldwide.

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TechnipFMC (FTI US)

TechnipFMC Plc: Significant Advantage of Its Carbon Capture and Storage (CCS) Technology!

TechnipFMC, an energy services company, has reported a strong performance in the first quarter of 2024, with total company revenue of $2 billion...

Baptista Research

TechnipFMC plc: Increased Visibility and Growth in Subsea Market! - Major Drivers

TechnipFMC, an energy services company, reported strong financial results for its fourth quarter and full year 2023. For the year, the company's...

Baptista Research

Bullish Outlook Intact; Downgrading India; Buys in Materials, Energy, Discretionary, Industrials

Bullish Outlook Intact on MSCI ACWI; Downgrading India to Market; Market Dynamics Healthy; Treat Pullbacks as Buying Opportunities; Buys in global...

Vermilion Research

TechnipFMC: Initiation Of Coverage - Technological Innovation For Efficiency & 3 Key Drivers

This is our first report on oil and gas services provider, TechnipFMC. The company's strong results in 2023 were marked by operational momentum...

Baptista Research

Remain Overweight Japan and India; Key Supports Holding; Buys in Energy, Tech/Services (India)

We remain bullish on global equities as long as major $93 support on $ACWI continues to hold (1+ year base support and the 10.5-month uptrend)....

Vermilion Research

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