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>UGI Corporation recently presented its fiscal 2024 second-quarter results, demonstrating significant growth and strategic adjustments that shape both the company's operational effectiveness and its outlook on shareholder value.</li><li>In the reported quarter, UGI Corporation announced an impressive adjusted earnings per share of $1.97, which is a $0.29 increase from the previous year.</li><li>The performance primarily benefited from robust contributions from its natural gas businesses, which posted record earnings for the quarter, signaling a 32% increase in adjusted net income year-over-year.</li></ul>

UGI Corporation recently presented its fiscal 2024 second-quarter results, demonstrating significant growth and strategic adjustments that shape both the company's operational effectiveness and its outlook on shareholder value.In the reported quarter, UGI Corporation announced an impressive adjusted earnings per share of $1.97, which is a $0.29 increase from the previous year.The performance primarily benefited from robust contributions from its natural gas businesses, which posted record earnings for the quarter, signaling a 32% increase in adjusted net income year-over-year.

UGI Corporation: Initiation of Coverage - These Are The 4 Biggest Drivers Of Its Future Performance! - Financial Forecasts

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Thematic (Sector/Industry)

<ul><li>The drive to green power is the well-understood destructive impact of fossil fuel consumption: Investment in renewable energy is driven by the reality that the current consumption of fossil fuels, and related air pollution, water pollution, and public health costs, are unsustainable. As hundreds of millions of people push for higher living standards&mdash;and thus increased consumption of polluting resources&mdash; governments around the world are acting. With governments meeting in early December for the COP21, stronger commitments are possible. We do not expect legally binding agreements on all parties to emerge from the talks.</li><li>With policy support, high investment is set to continue: Though some governments have throttled back support following inefficient overbuild, the trend points upward in the largest markets, primarily the United States and China, and key new markets in emerging economies like India, Mexico, South Africa, Turkey, and others. With more players chasing development, and lower absolute subsidies in many cases, we think renewable energy investment returns may fall.</li><li>Ormat is our favorite way to play renewable energy generation capacity: Even though we think the stock is currently modestly overvalued, Ormat Technologies&mdash;a narrow-moat pure-play geothermal developer&mdash;is the only independent power producer with an economic moat. It has a long and impressive growth runway well beyond our five-year explicit forecast, and its baseload geothermal generation has a major operational advantage over intermittent solar and wind.</li><li>Renewable energy growth was one factor in our recent midcycle power price cuts: We recently cut our midcycle outlook for Texas power markets by 20%, primarily because of the state's huge pipeline of renewable energy projects that we expect to go into service during the next three to five years. There are more than 24.5 GW of active generation requests under review for new-build wind generation through 2020, including 11 GW in the next two years, with the state's primary grid operator, ERCOT, or the Electric Reliability Council of Texas.</li></ul>Analysts: Mark Barnett, Travis Miller, Andy Bischoff CFA &amp; Charles Fishman, CFA

The drive to green power is the well-understood destructive impact of fossil fuel consumption: Investment in renewable energy is driven by the reality that the current consumption of fossil fuels, and related air pollution, water pollution, and public health costs, are unsustainable. As hundreds of millions of people push for higher living standards&mdash;and thus increased consumption of polluting resources&mdash; governments around the world are acting. With governments meeting in early December for the COP21, stronger commitments are possible. We do not expect legally binding agreements on all parties to emerge from the talks.With policy support, high investment is set to continue: Though some governments have throttled back support following inefficient overbuild, the trend points upward in the largest markets, primarily the United States and China, and key new markets in emerging economies like India, Mexico, South Africa, Turkey, and others. With more players chasing development, and lower absolute subsidies in many cases, we think renewable energy investment returns may fall.Ormat is our favorite way to play renewable energy generation capacity: Even though we think the stock is currently modestly overvalued, Ormat Technologies&mdash;a narrow-moat pure-play geothermal developer&mdash;is the only independent power producer with an economic moat. It has a long and impressive growth runway well beyond our five-year explicit forecast, and its baseload geothermal generation has a major operational advantage over intermittent solar and wind.Renewable energy growth was one factor in our recent midcycle power price cuts: We recently cut our midcycle outlook for Texas power markets by 20%, primarily because of the state's huge pipeline of renewable energy projects that we expect to go into service during the next three to five years. There are more than 24.5 GW of active generation requests under review for new-build wind generation through 2020, including 11 GW in the next two years, with the state's primary grid operator, ERCOT, or the Electric Reliability Council of Texas.Analysts: Mark Barnett, Travis Miller, Andy Bischoff CFA &amp; Charles Fishman, CFA

United States

UGI Corporation distributes and markets energy products and services.  The Company is a domestic and international distributor of propane.  UGI also distributes and markets natural gas and electricity, and sells related products and services in the Middle Atlantic region of the United States.

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Ugi Corp (UGI US)

UGI Corporation: Initiation of Coverage - These Are The 4 Biggest Drivers Of Its Future Performance! - Financial Forecasts

UGI Corporation recently presented its fiscal 2024 second-quarter results, demonstrating significant growth and strategic adjustments that shape...

Baptista Research

Why the Renewable Energy Boom Has Legs

The drive to green power is the well-understood destructive impact of fossil fuel consumption:Investment in renewable energy is driven by the...

Morningstar, Inc.

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