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>KTX maintains a Neutral rating. The valuation metrics suggest that the latest share price is attractive in terms of the current fundamentals, as the share price has continuously declined, reflecting negative SSSG for four consecutive quarters.</li><li>We have a neutral view on the long- term growth outlook.</li><li>In addition, the share price implies limited tactical upside risk, with the 12M FV at Bt10.90, based on the earnings yield method and a required rate of return of 5.2%.</li></ul>

KTX maintains a Neutral rating. The valuation metrics suggest that the latest share price is attractive in terms of the current fundamentals, as the share price has continuously declined, reflecting negative SSSG for four consecutive quarters.We have a neutral view on the long- term growth outlook.In addition, the share price implies limited tactical upside risk, with the 12M FV at Bt10.90, based on the earnings yield method and a required rate of return of 5.2%.

Home Product Center - Flat 2Q24 Earnings YoY but Down 5% QoQ, as Expected