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>We maintain an Outperform rating and the 12M FWD fair value (FV) at Bt68.00, based on an earnings yield of 2.5%.</li><li>KTX’s valuation metrics recommend buying based on the fundamentals, given that the current market price provices upside of +11% to the FV.</li><li>The long- term growth outlook is strong, with an FY2025-27E EPS CAGR of +14%, exceeding the industry average of +11%.</li></ul>

We maintain an Outperform rating and the 12M FWD fair value (FV) at Bt68.00, based on an earnings yield of 2.5%.KTX’s valuation metrics recommend buying based on the fundamentals, given that the current market price provices upside of +11% to the FV.The long- term growth outlook is strong, with an FY2025-27E EPS CAGR of +14%, exceeding the industry average of +11%.

Airports of Thailand - Entering the High Season; Passenger Volume Likely to Exceed AOT’s Target