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

Bumrungrad Hospital Pub Co / Equity Bottom-Up

<ul><li>We maintain a Neutral rating with a more positive outlook on both the fundamentals and the tactical positioning.</li><li>The stock price has declined by 15% since the 3Q24 earnings announcement.</li><li>Hence, the upside relative to the new target price of Bt236.00 with a required return of 4.0% (previously Bt242.00 with a required return of 3.9%) has increased to +5%. This shifts the fundamental recommendation to neutral (previously overvalued).</li></ul>

We maintain a Neutral rating with a more positive outlook on both the fundamentals and the tactical positioning.The stock price has declined by 15% since the 3Q24 earnings announcement.Hence, the upside relative to the new target price of Bt236.00 with a required return of 4.0% (previously Bt242.00 with a required return of 3.9%) has increased to +5%. This shifts the fundamental recommendation to neutral (previously overvalued).

Bumrungrad Hospital - Earnings Forecasts Revised Down to Reflect Slower Foreign Patients