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 an Outperform rating with a 2025E fair value (FV) of Bt26.75, based on a required return of 5.07%.</li><li>Our valuation metrics indicate that the stock implies an attractive upside potential while the growth prospects for 2024-26E remain strong at a 12% CAGR.</li><li>The peak of profit margins and seasonal factors may limit the share price performance. </li></ul>

KTX maintains an Outperform rating with a 2025E fair value (FV) of Bt26.75, based on a required return of 5.07%.Our valuation metrics indicate that the stock implies an attractive upside potential while the growth prospects for 2024-26E remain strong at a 12% CAGR.The peak of profit margins and seasonal factors may limit the share price performance. 

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