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>Unilever's latest earnings reveals that the company is on a positive trajectory, but acknowledges that there are still areas for improvement.</li><li>Unilever's new Chief Financial Officer, Fernando Fernandez, discussed the company's financial results, the details of their growth action plan, and shifts they have already made to improve performance.</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>

Unilever's latest earnings reveals that the company is on a positive trajectory, but acknowledges that there are still areas for improvement.Unilever's new Chief Financial Officer, Fernando Fernandez, discussed the company's financial results, the details of their growth action plan, and shifts they have already made to improve performance.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.

Unilever PLC: How The Management Is Scaling Power Brands And Has Increased Spending on Productivity! - Major Drivers

<ul><li>Unilever had a decent performance in the recent quarterly result with revenues above Wall Street expectations.</li><li>Its strong performance in the first half of 2023 resulted from increased investment in its brands and the creation of new capabilities.</li><li>In Beauty & Wellbeing and Personal Care, the company observed a decent balance between price and volume.</li></ul>

Unilever had a decent performance in the recent quarterly result with revenues above Wall Street expectations.Its strong performance in the first half of 2023 resulted from increased investment in its brands and the creation of new capabilities.In Beauty & Wellbeing and Personal Care, the company observed a decent balance between price and volume.

Unilever PLC: How Are The Growth Prospects Of This Consumer Goods Behemoth? Drivers

Japan Specialist

Mark Chadwick

<ul>
<li>Kao has the lonest period of consecutive earnings growth in the Nikkei's new "Consecutive Dividend Growth Stock Index"</li>
<li>With a 2.8% yield and a long history of raising its dividend, Kao should definitely be on the income investor's radar screen</li>
<li>Despite the recent underperformance of the stock (-4% ytd), Kao does not represent compelling valuations</li>
</ul>


Kao has the lonest period of consecutive earnings growth in the Nikkei's new "Consecutive Dividend Growth Stock Index"
With a 2.8% yield and a long history of raising its dividend, Kao should definitely be on the income investor's radar screen
Despite the recent underperformance of the stock (-4% ytd), Kao does not represent compelling valuations


Kao (4452) | Is It Time to Buy This Dividend Aristocrat?

<ul><li>Unilever made a good start to the year and delivered double-digit underlying sales growth that was above Wall Street expectations.</li><li>The underlying sales growth was 10.5% in the quarter.</li><li>Unilever made good progress in executing its strategic priorities, beginning with innovation and brands.</li></ul>

Unilever made a good start to the year and delivered double-digit underlying sales growth that was above Wall Street expectations.The underlying sales growth was 10.5% in the quarter.Unilever made good progress in executing its strategic priorities, beginning with innovation and brands.

Unilever ADR: M&A Strategy Continuing to Pay Off? – Key Drivers

Global Healthcare Analyst

Tina Banerjee

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kenvue-inc" target="_blank" data-smartkarma-citation="entities:36755:1" rel="noopener">Kenvue (KVUE US)</a>, a wholly owned subsidiary of <a href="https://www.smartkarma.com/entities/johnson-johnson" target="_blank" data-smartkarma-citation="entities:1132:1" rel="noopener">Johnson &amp; Johnson (JNJ US)</a>, is preparing for an IPO of 151M shares. The IPO price is expected to be $20–23/share.  </li>
<li>Goldman Sachs, J.P. Morgan, and BofA Securities are acting as joint lead bookrunning managers for the IPO. J&amp;J will still own more than 90% of Kenvue’s shares after the IPO.</li>
<li>In 1Q23, Kenvue’s revenue increased 7% YoY to $3.9B, driven by a 12% YoY revenue growth in self-care OTC products. Adjusted net income increased 3% YoY to $630M.</li>
</ul>



Kenvue (KVUE US), a wholly owned subsidiary of Johnson &amp; Johnson (JNJ US), is preparing for an IPO of 151M shares. The IPO price is expected to be $20–23/share.  
Goldman Sachs, J.P. Morgan, and BofA Securities are acting as joint lead bookrunning managers for the IPO. J&amp;J will still own more than 90% of Kenvue’s shares after the IPO.
In 1Q23, Kenvue’s revenue increased 7% YoY to $3.9B, driven by a 12% YoY revenue growth in self-care OTC products. Adjusted net income increased 3% YoY to $630M.


Kenvue (KVUE US) Pre-IPO: Marquee Brands to Drive Profitable Growth

United Kingdom

Unilever PLC manufactures personal care products. The Company offers consumer goods, food, detergents, fragrances, beauty, home, and personal care products. Unilever serves customers worldwide.

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Unilever (UL US)

Unilever PLC: How The Management Is Scaling Power Brands And Has Increased Spending on Productivity! - Major Drivers

Unilever's latest earnings reveals that the company is on a positive trajectory, but acknowledges that there are still areas for...

Baptista Research

Unilever PLC: How Are The Growth Prospects Of This Consumer Goods Behemoth? Drivers

Unilever had a decent performance in the recent quarterly result with revenues above Wall Street expectations. Its strong performance in the first...

Baptista Research

Kao (4452) | Is It Time to Buy This Dividend Aristocrat?

Kao has the lonest period of consecutive earnings growth in the Nikkei's new "Consecutive Dividend Growth Stock Index". With a dividend yield of...

Mark Chadwick

Unilever ADR: M&A Strategy Continuing to Pay Off? – Key Drivers

Unilever made a good start to the year and delivered double-digit underlying sales growth that was above Wall Street expectations. The underlying...

Baptista Research

Kenvue (KVUE US) Pre-IPO: Marquee Brands to Drive Profitable Growth

J&J’s consumer health spin-off entity Kenvue is preparing for NYSE IPO. The IPO has been priced at $20–23 per share to raise ~$3.2B. Goldman Sachs,...

Tina Banerjee

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