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 Bt22.30, based on a required return of 5.58%, reflecting the target PER of 17.9x.</li><li>The valuation metrics indicate that the current stock price upside is attractive, the long-term earnings growth is steady, and the tactical parameters are neutral.</li><li>ITC’s stock price has slipped near its 2023 low, when its net profit was only Bt2.3bn; however, as the current earnings forecast for 2025E is Bt3.7bn, significantly higher than in the 2023 downcycle, we view this as a buying opportunity.</li></ul>

KTX maintains an Outperform rating with a 2025E fair value (FV) of Bt22.30, based on a required return of 5.58%, reflecting the target PER of 17.9x.The valuation metrics indicate that the current stock price upside is attractive, the long-term earnings growth is steady, and the tactical parameters are neutral.ITC’s stock price has slipped near its 2023 low, when its net profit was only Bt2.3bn; however, as the current earnings forecast for 2025E is Bt3.7bn, significantly higher than in the 2023 downcycle, we view this as a buying opportunity.

I-Tail Corporation - In-Line 4Q24 Earnings

I-TAIL

I-Tail Corporation - In-Line 4Q24 Earnings