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 stock losses to have pressured net profit in 4Q24E- 2024E.</li><li>However, we fine-tuned our 2025-26E earnings forecasts up by 2%, reflecting the earnings forecast revisions for BCPG earlier.</li><li>We anticipate strong 2-year core EPS growth at a 29% CAGR, supported by new profit contributions from the SAF project.</li></ul>

We expect stock losses to have pressured net profit in 4Q24E- 2024E.However, we fine-tuned our 2025-26E earnings forecasts up by 2%, reflecting the earnings forecast revisions for BCPG earlier.We anticipate strong 2-year core EPS growth at a 29% CAGR, supported by new profit contributions from the SAF project.

Bangchak Corporation - Stock Losses to Have Pressured Net Profit in 4Q24-2024E