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>POSCO Holdings reported consolidated revenue of KRW 17.9 trillion and operating profit of KRW 710 billion for the first quarter of 2026, indicating improvements in both areas compared to the previous quarter despite challenging macroeconomic conditions, including disruptions from the U.S.-Iran conflict that affected energy supply chains and led to volatile foreign exchange rates.</li><li>The company highlighted sector-specific performance with mixed results across its core businesses.</li><li>In rechargeable battery materials, rising lithium prices helped significantly reduce losses, particularly at POSCO Argentina, where production ramped up to around 70% utilization in March, resulting in the subsidiary’s first-ever monthly profit.</li></ul>

POSCO Holdings reported consolidated revenue of KRW 17.9 trillion and operating profit of KRW 710 billion for the first quarter of 2026, indicating improvements in both areas compared to the previous quarter despite challenging macroeconomic conditions, including disruptions from the U.S.-Iran conflict that affected energy supply chains and led to volatile foreign exchange rates.The company highlighted sector-specific performance with mixed results across its core businesses.In rechargeable battery materials, rising lithium prices helped significantly reduce losses, particularly at POSCO Argentina, where production ramped up to around 70% utilization in March, resulting in the subsidiary’s first-ever monthly profit.

POSCO Holdings: Initiation Of Coverage- A Powerful Lithium Recovery Story With Steel Margin Pressure Still In Focus!

Posco ADR

POSCO Holdings: Initiation Of Coverage- A Powerful Lithium Recovery Story With Steel Margin Pressure Still In Focus!