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

GFPT Public Company Limited / Equity Bottom-Up

<ul><li>The peak of profit for this year has passed in 2Q-3Q24. Currently, domestic broiler prices are declining, and the broiler export business is entering its low season in 4Q and 1Q.</li><li>This means there are no catalysts for the next three to six months.</li><li>The valuation metrics show that the stock remains fundamentally attractive, with the stock price down 7% over the past month, providing 18% upside from the fair value of Bt13.25 (based on a required return of 11%). </li></ul>

The peak of profit for this year has passed in 2Q-3Q24. Currently, domestic broiler prices are declining, and the broiler export business is entering its low season in 4Q and 1Q.This means there are no catalysts for the next three to six months.The valuation metrics show that the stock remains fundamentally attractive, with the stock price down 7% over the past month, providing 18% upside from the fair value of Bt13.25 (based on a required return of 11%). 

Gfpt - In-Line 3Q24 Earnings; 4Q24E Profit to Weaken Seasonally