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 Capital Markets

<ul><li>Apparel retailer, VF Corporation delivered a below-par result after failing to meet market expectations in terms of both, revenues as well as earnings.</li><li>The company’s overall top-line grew by 23%, driven mainly by the direct-to-consumer channel that grew by 32% and a digital revenue growth of 24%.</li><li>Around 4% of the top-line growth was a result of acquisitions and its Outdoor segment was a major contributor with 31% growth.</li></ul>

Apparel retailer, VF Corporation delivered a below-par result after failing to meet market expectations in terms of both, revenues as well as earnings.The company’s overall top-line grew by 23%, driven mainly by the direct-to-consumer channel that grew by 32% and a digital revenue growth of 24%.Around 4% of the top-line growth was a result of acquisitions and its Outdoor segment was a major contributor with 31% growth.

<ul><li>V.F.</li><li>Corporation delivered an outstanding first quarter result for the 2022 fiscal, powering the company back to pre-pandemic revenue levels while driving an earnings recovery well ahead of its initial expectations.</li><li>Its revenue has exceeded pre-pandemic levels growing 96% overall with an 83% organic growth and excellent momentum across brands, channels, and regions.</li></ul>

V.F.Corporation delivered an outstanding first quarter result for the 2022 fiscal, powering the company back to pre-pandemic revenue levels while driving an earnings recovery well ahead of its initial expectations.Its revenue has exceeded pre-pandemic levels growing 96% overall with an 83% organic growth and excellent momentum across brands, channels, and regions.

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

We are beginning to see early signs of rotations back into more risk-on areas of the equity market -- a bullish sign for the broad market. Short-term outperformance and constructive consolidation/bottoming patterns are evident within biotech (IBB, XBI), small- and micro-caps (IWM, IWC), and emerging markets (EEM). This only adds to our positive outlook for the weeks and months ahead; continue to buy pullbacks.

We are beginning to see early signs of rotations back into more risk-on areas of the equity market -- a bullish sign for the broad market. Short-term outperformance and constructive consolidation/bottoming patterns are evident within biotech (IBB, XBI), small- and micro-caps (IWM, IWC), and emerging markets (EEM). This only adds to our positive outlook for the weeks and months ahead; continue to buy pullbacks.

U.S. Equity Strategy: Risk-On Rotations Vs. Weaker Seasonality; Russell 2000, Biotech, EM Improving

Expert on Japan Retail and Consumer Markets, JapanConsuming

Michael Causton

Expert on Japan Retail and Consumer Markets

Real Insight on Japanese Consumer Markets

JapanConsuming

JapanConsuming is a specialist research firm producing intelligence on Japanese retail and consumer markets. Founded in 2000, JapanConsuming has become the leading provider of insights on Japanese retailers and consumer trends to retailers, brands, government agencies and investors. As well as a highly regarded monthly report on the market, JapanConsuming produces in-depth reports on retail sectors, seminars on key trends and telephone consulting to investors on trends and retailers.

JapanConsuming was founded by Michael Causton and Roy Larke. 

Equity Bottom-Up

While lifestyle outdoor brands look like one of the more vulnerable categories in the current crisis, <a href="https://www.smartkarma.com/entities/goldwin-inc" target="_blank" data-smartkarma-citation="entities:410:1" rel="noopener">Goldwin Inc (8111 JP)</a>’s renaissance continues.The sports/outdoor firm remains overly dependent on The North Face for the bulk of sales and profits but the potential to grow other brands, including its own, and a healthy balance sheet, suggest Goldwin has enough to ride out this crisis and continue to build.

While lifestyle outdoor brands look like one of the more vulnerable categories in the current crisis, Goldwin Inc (8111 JP)’s renaissance continues.The sports/outdoor firm remains overly dependent on The North Face for the bulk of sales and profits but the potential to grow other brands, including its own, and a healthy balance sheet, suggest Goldwin has enough to ride out this crisis and continue to build.

Goldwin Climbs Further in Japan Health and Wellness Boom

Equity Analyst, LightStream Research

Oshadhi Kumarasiri

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Event-Driven

It was reported by several news media outlets that the private equity firm Sycamore Partners Management LP has been in talks with <a href="https://www.smartkarma.com/entities/l-brands-inc" target="_blank" data-smartkarma-citation="entities:20339:1" rel="noopener">L Brands Inc (LB US)</a> regarding the purchase of the latter’s iconic lingerie brand Victoria's Secret (VS). Media reports suggest that it is almost a done deal and an announcement can be expected as early as tomorrow, 18th February 2020. In addition to acquiring VS, Sycamore Partners Management LP is also weighing a private investment in public equity deal (PIPE) to help L Brands reduce its debt burden.

It was reported by several news media outlets that the private equity firm Sycamore Partners Management LP has been in talks with L Brands Inc (LB US) regarding the purchase of the latter’s iconic lingerie brand Victoria's Secret (VS). Media reports suggest that it is almost a done deal and an announcement can be expected as early as tomorrow, 18th February 2020. In addition to acquiring VS, Sycamore Partners Management LP is also weighing a private investment in public equity deal (PIPE) to help L Brands reduce its debt burden.

L Brands: Sale of Victoria's Secret Helps Draw Attention to Bath & Body’s Success

United States

VF Corporation is an international apparel company. The Company owns a broad portfolio of brands in the jeanswear, outerwear, packs, footwear, sportswear and occupational apparel categories. VF Corp's products are marketed to consumers shopping in specialty stores, upscale and traditional department stores, national chains and mass merchants.

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Vf Corp (VFC US)

VF Corp - Investment Thesis

Apparel retailer, VF Corporation delivered a below-par result after failing to meet market expectations in terms of both, revenues as well as...

Baptista Research

VF Corp - Investment Thesis

V.F. Corporation delivered an outstanding first quarter result for the 2022 fiscal, powering the company back to pre-pandemic revenue levels while...

Baptista Research

U.S. Equity Strategy: Risk-On Rotations Vs. Weaker Seasonality; Russell 2000, Biotech, EM Improving

We are seeing signs of rotations back into more risk-on areas of the equity market -- a bullish sign for the broad market. Add to biotech, small-...

Vermilion Research

Goldwin Climbs Further in Japan Health and Wellness Boom

While lifestyle outdoor brands look like one of the more vulnerable categories in the current crisis, Goldwin Inc (8111 JP)’s renaissance...

Michael Causton

L Brands: Sale of Victoria's Secret Helps Draw Attention to Bath & Body’s Success

It was reported by several news media outlets that the private equity firm Sycamore Partners Management LP has been in talks with L Brands Inc (LB...

Oshadhi Kumarasiri

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