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 new fair value of Bt26.75 vs. Bt23.90 previously, based on the earnings yield and a required return of 5.07%, reflecting a target PER of 19.7x.</li>
<li>The valuation metrics suggest that the current stock price presents a buying opportunity, supported by strong earnings growth, while the tactical parameters indicate limited upside.</li>
<li>We like ITC for its positioning as a highly competitive player on the global pet food stage.</li>
</ul>


KTX maintains an Outperform rating, with a new fair value of Bt26.75 vs. Bt23.90 previously, based on the earnings yield and a required return of 5.07%, reflecting a target PER of 19.7x.
The valuation metrics suggest that the current stock price presents a buying opportunity, supported by strong earnings growth, while the tactical parameters indicate limited upside.
We like ITC for its positioning as a highly competitive player on the global pet food stage.


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