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 a Neutral rating, with a 12M FV of Bt160.00, based on the earnings yield and a required return of 15.7%.</li><li>The valuation metrics suggest that the share price implies potential upside to the fair price of just 2%, while the tactical risk is neutral.</li><li>Moreover, the long-term growth prospects are also expected to be just neutral.</li></ul>

We maintain a Neutral rating, with a 12M FV of Bt160.00, based on the earnings yield and a required return of 15.7%.The valuation metrics suggest that the share price implies potential upside to the fair price of just 2%, while the tactical risk is neutral.Moreover, the long-term growth prospects are also expected to be just neutral.

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