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 but lower the fair value to Bt237.00, based on a required return of 4.1% (previously Bt246.00 and 3.9%).</li><li>We still hold a positive view on the fundamentals, as the market price implies upside of 29% to the fair value.</li><li>We maintain a negative view on the long-term growth, which is weaker than the industry, with 2024-26E core EPS CAGR expected at +1%. </li></ul>

We maintain a Neutral rating but lower the fair value to Bt237.00, based on a required return of 4.1% (previously Bt246.00 and 3.9%).We still hold a positive view on the fundamentals, as the market price implies upside of 29% to the fair value.We maintain a negative view on the long-term growth, which is weaker than the industry, with 2024-26E core EPS CAGR expected at +1%. 

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