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

<ul><li>The 4Q24E core profit is expected to have been the strongest of 2024E, with projected growth of 10% QoQ and 24% YoY.</li><li>Two-year profit growth is anticipated to achieve a CAGR of 13%, driven by higher sales and improved gross margins, supported by both organic growth and business synergy gains from the group’s restructuring efforts.</li><li>Based on the valuation metrics, the outlook has been revised to buy on the current fundamentals (previously neutral), with the stock offering a 29% upside and limited downside risk (previously limited upside).</li></ul>

The 4Q24E core profit is expected to have been the strongest of 2024E, with projected growth of 10% QoQ and 24% YoY.Two-year profit growth is anticipated to achieve a CAGR of 13%, driven by higher sales and improved gross margins, supported by both organic growth and business synergy gains from the group’s restructuring efforts.Based on the valuation metrics, the outlook has been revised to buy on the current fundamentals (previously neutral), with the stock offering a 29% upside and limited downside risk (previously limited upside).

Cp Axtra - Expect 4Q24E Earnings Growth YoY and QoQ and 2024E Growth at 24%

CP Axtra

Cp Axtra - Expect 4Q24E Earnings Growth YoY and QoQ and 2024E Growth at 24%