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

Charoen Pokphand Foods  / Equity Bottom-Up

<ul><li>KTX maintains our Neutral rating. The valuation metrics suggest that the share price has risen beyond the current valuation; meanwhile, the long-term growth outlook remains intact, and the tactical view is neutral.</li><li>The fair value is Bt18.58. based on the earnings yield, with a required rate of return of 3.31%.</li><li>CPF’s 1Q24 net profit amounted to Bt1.2bn, better than our projection calling for a loss of Bt1.4bn. </li></ul>

KTX maintains our Neutral rating. The valuation metrics suggest that the share price has risen beyond the current valuation; meanwhile, the long-term growth outlook remains intact, and the tactical view is neutral.The fair value is Bt18.58. based on the earnings yield, with a required rate of return of 3.31%.CPF’s 1Q24 net profit amounted to Bt1.2bn, better than our projection calling for a loss of Bt1.4bn. 

Charoen Pokphand Foods - 1Q24 Earnings Turnaround Better than Expected