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>UBS Group AG's second-quarter 2025 results showcase a blend of strong financial performance, strategic progress, and future challenges.</li>
<li>The company registered a profit before tax of $2.7 billion, marking a 30% increase year over year.</li>
<li>This was driven by a solid revenue growth of 4% and a decrease in operating expenses of 3% to $8.7 billion.</li>
</ul>


UBS Group AG's second-quarter 2025 results showcase a blend of strong financial performance, strategic progress, and future challenges.
The company registered a profit before tax of $2.7 billion, marking a 30% increase year over year.
This was driven by a solid revenue growth of 4% and a decrease in operating expenses of 3% to $8.7 billion.


UBS Group AG: Restructuring of Noncore & Legacy Operations to Up Their Game!

<ul>
<li>UBS Group AG reported strong financial performance for the first quarter of 2025 amid challenging market conditions, marked by fluctuating investor sentiment and significant volatility.</li>
<li>The company's diversified global franchise and disciplined cost management strategies have played a crucial role in navigating these challenging conditions.</li>
<li>UBS achieved a net profit of $1.7 billion and an underlying return on common equity tier 1 (CET1) capital of 11.3%, driven by positive operating leverage in its core divisions.</li>
</ul>


UBS Group AG reported strong financial performance for the first quarter of 2025 amid challenging market conditions, marked by fluctuating investor sentiment and significant volatility.
The company's diversified global franchise and disciplined cost management strategies have played a crucial role in navigating these challenging conditions.
UBS achieved a net profit of $1.7 billion and an underlying return on common equity tier 1 (CET1) capital of 11.3%, driven by positive operating leverage in its core divisions.


UBS: Powering Ahead with 72% Investment Bank Profit Spike & Asset Efficiency Play!

<ul>
<li>UBS Group AG reported a strong third quarter in 2024, demonstrating significant progress in its integration efforts following the acquisition of Credit Suisse.</li>
<li>The company posted a net profit of $1.4 billion, with underlying profit before tax (PBT) reaching $2.4 billion.</li>
<li>These results illustrate a 9% year-on-year increase in underlying revenues, highlighting the robustness of UBS's diversified business model and global scale.</li>
</ul>


UBS Group AG reported a strong third quarter in 2024, demonstrating significant progress in its integration efforts following the acquisition of Credit Suisse.
The company posted a net profit of $1.4 billion, with underlying profit before tax (PBT) reaching $2.4 billion.
These results illustrate a 9% year-on-year increase in underlying revenues, highlighting the robustness of UBS's diversified business model and global scale.


UBS Group: Leveraging Technological Integration For A Competitive Edge!

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>Volatility finally picked up last Friday, and the SPX and Nasdaq 100 (QQQ) both gapped lower to close below their 20-day MAs for the first time in over three months.</li>
<li>With that said, all of the major indexes (SPX, QQQ, DJI, IWM) rallied yesterday to fill their gaps from Friday and SPX and QQQ have reclaimed above their 20-day MAs. </li>
<li>This is a bullish signal that suggests any further pullback is likely to be relatively shallow, and should be treated as a buying opportunity.</li>
</ul>


Volatility finally picked up last Friday, and the SPX and Nasdaq 100 (QQQ) both gapped lower to close below their 20-day MAs for the first time in over three months.
With that said, all of the major indexes (SPX, QQQ, DJI, IWM) rallied yesterday to fill their gaps from Friday and SPX and QQQ have reclaimed above their 20-day MAs. 
This is a bullish signal that suggests any further pullback is likely to be relatively shallow, and should be treated as a buying opportunity.


Was That It?; Downgrading Discretionary and Energy; Gr/Val Breakout; Market Dynamics Remain Risk-On

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).</li>
<li>We will maintain our bullish intermediate-term outlook as long as market dynamics remain healthy and SPX is above 6028-6059 (up from 5700-5785 as it is highly unlikely to be tested).</li>
<li>Some will point to August seasonality as a reason to be cautious; we simply are not seeing any signs that suggest a meaningful pullback is imminent.</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).
We will maintain our bullish intermediate-term outlook as long as market dynamics remain healthy and SPX is above 6028-6059 (up from 5700-5785 as it is highly unlikely to be tested).
Some will point to August seasonality as a reason to be cautious; we simply are not seeing any signs that suggest a meaningful pullback is imminent.


Market Extended Entering Seasonally Weak August; Meaningful Pullback Imminent? Not Likely

Switzerland

UBS Group AG provides financial services to private, corporate, and institutional clients. The Company offers investment, retail, and corporate and institutional banking, as well as holistic wealth management planning and asset management services. UBS Group also offers securities services such as fund administration and third-party fund management.

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UBS Group (UBS US)

UBS Group AG: Restructuring of Noncore & Legacy Operations to Up Their Game!

UBS Group AG's second-quarter 2025 results showcase a blend of strong financial performance, strategic progress, and future challenges.

Baptista Research

UBS: Powering Ahead with 72% Investment Bank Profit Spike & Asset Efficiency Play!

UBS Group AG reported strong financial performance for the first quarter of 2025 amid challenging market conditions, marked by fluctuating investor...

Baptista Research

UBS Group: Leveraging Technological Integration For A Competitive Edge!

UBS Group AG reported a strong third quarter in 2024, demonstrating significant progress in its integration efforts following the acquisition of...

Baptista Research

Was That It?; Downgrading Discretionary and Energy; Gr/Val Breakout; Market Dynamics Remain Risk-On

Was That It? $SPX $QQQ $IWM; Downgrading Discretionary $XLY to market weight and Energy $XLE to underweight; Growth vs. Value Breaking Out; Market...

Vermilion Research

Market Extended Entering Seasonally Weak August; Meaningful Pullback Imminent? Not Likely

Market Extended Entering Seasonally Weak August; Still Little Evidence that a Meaningful Pullback is Imminent. Still Bullish $SPX $QQQ since 4/22...

Vermilion Research

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