Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

A full service Thai brokerage

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

Equity Bottom-Up

<ul><li>Our Outperform rating is maintained, given the stock’s attractiveness in terms of the fundamental valuation, with 25% upside to the new fair value (FV).</li><li>In addition, the 8.2% decline in the share price since the previous report supports an improved tactical view of neutral from limited upside risk previously.</li><li>The 12-month forward FV, based on the earnings yield method, is newly revised to Bt15.50 (previously Bt16.20). </li></ul>

Our Outperform rating is maintained, given the stock’s attractiveness in terms of the fundamental valuation, with 25% upside to the new fair value (FV).In addition, the 8.2% decline in the share price since the previous report supports an improved tactical view of neutral from limited upside risk previously.The 12-month forward FV, based on the earnings yield method, is newly revised to Bt15.50 (previously Bt16.20). 

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