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

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<li>BTG’s two-year earnings (2022-24E) are expected to mark a -18% CAGR, vs. a +9% CAGR expected previously, owing to the sharp falls of broiler and swine prices since the beginning of the year.</li>
<li>Our valuation metrics prompts us to revise down our rating to Underperform (from Outperform) because the share price is fully valued and implies no tactical upside.</li>
<li>BTG has revised down its 2023 sales growth target further to 5-10% (vs. 8-12% previously) because both swine and broiler prices have fallen sharply.</li>
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BTG’s two-year earnings (2022-24E) are expected to mark a -18% CAGR, vs. a +9% CAGR expected previously, owing to the sharp falls of broiler and swine prices since the beginning of the year.
Our valuation metrics prompts us to revise down our rating to Underperform (from Outperform) because the share price is fully valued and implies no tactical upside.
BTG has revised down its 2023 sales growth target further to 5-10% (vs. 8-12% previously) because both swine and broiler prices have fallen sharply.






BETAGRO - Earnings Projections Cut; 2-Year Profit Estimated at A -18% CAGR

Betagro

BETAGRO - Earnings Projections Cut; 2-Year Profit Estimated at A -18% CAGR