Independent research on the U.S. markets, Baptista Research

Baptista Research

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.

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>The AES Corporation reported financial and operational results for the third quarter of 2025, affirming its full-year guidance and long-term growth targets.</li><li>The company highlighted strong execution across its renewables and utility segments, with adjusted EBITDA rising to $830 million from $698 million year-over-year, and adjusted earnings per share increasing to $0.75 from $0.71 in the same period.</li><li>This growth was primarily driven by the completion of new renewable projects, acceleration in U.S. utility rate base investments, and realization of cost savings initiatives, partially offset by divestitures such as the sale of AES Brazil and a stake reduction in AES Ohio.</li></ul>

The AES Corporation reported financial and operational results for the third quarter of 2025, affirming its full-year guidance and long-term growth targets.The company highlighted strong execution across its renewables and utility segments, with adjusted EBITDA rising to $830 million from $698 million year-over-year, and adjusted earnings per share increasing to $0.75 from $0.71 in the same period.This growth was primarily driven by the completion of new renewable projects, acceleration in U.S. utility rate base investments, and realization of cost savings initiatives, partially offset by divestitures such as the sale of AES Brazil and a stake reduction in AES Ohio.

AES’s 60% U.S. Renewables Expansion Signals A Pivotal Capacity Cycle!

Aes Corp

AES’s 60% U.S. Renewables Expansion Signals A Pivotal Capacity Cycle!