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 expect the market’s view on BGRIM's earnings outlook to be more bullish due to lower gas costs, which would also provide cushion for IU margins, as well as power capacity expansion and the increasing share of RE projects.</li><li>Hence, we have raised BGRIM’s earnings forecasts and increased the 12M FV to Bt35 (from Bt33).</li><li>Our valuation metrics indicate a positive view on the current valuation and long-term growth prospects (2024-26E EPS growth expected at a 26% CAGR), while the downside tactical risks are limited. </li></ul>

We expect the market’s view on BGRIM's earnings outlook to be more bullish due to lower gas costs, which would also provide cushion for IU margins, as well as power capacity expansion and the increasing share of RE projects.Hence, we have raised BGRIM’s earnings forecasts and increased the 12M FV to Bt35 (from Bt33).Our valuation metrics indicate a positive view on the current valuation and long-term growth prospects (2024-26E EPS growth expected at a 26% CAGR), while the downside tactical risks are limited. 

B.grimm Power - Strong LT Earnings Momentum; Pursuing Green Power Growth

B Grimm Power

B.grimm Power - Strong LT Earnings Momentum; Pursuing Green Power Growth