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 has upgraded our recommendation to Outperform (previously Neutral) as the valuation metrics indicate a more bullish outlook based on the current fundamentals, with the stock price now seen as undervalued (compared to the previous neutral stance).</li><li>The tactical view is also upgraded to neutral (compared to the previous limited upside risk).</li><li>Meanwhile, we maintain a strong outlook on the company’s long-term growth prospects, anticipating core profit growth at a 14% CAGR from 2024E to 2026E.</li></ul>

KTX has upgraded our recommendation to Outperform (previously Neutral) as the valuation metrics indicate a more bullish outlook based on the current fundamentals, with the stock price now seen as undervalued (compared to the previous neutral stance).The tactical view is also upgraded to neutral (compared to the previous limited upside risk).Meanwhile, we maintain a strong outlook on the company’s long-term growth prospects, anticipating core profit growth at a 14% CAGR from 2024E to 2026E.

Charoen Pokphand Foods - Solid 3Q24E Earnings Growth; Raised 2024-26E Earnings Forecasts