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>We upgrade our rating to Outperform (from Neutral) based on a more positive outlook for long-term growth.</li><li>EPS growth for 2025-27E is now projected at a CAGR of 4.7%, outperforming the industry average of +1.1%.</li><li>Meanwhile, the stock’s valuation appears fundamentally attractive, with the share price implying 17.2% upside to the new fair value. </li></ul>

We upgrade our rating to Outperform (from Neutral) based on a more positive outlook for long-term growth.EPS growth for 2025-27E is now projected at a CAGR of 4.7%, outperforming the industry average of +1.1%.Meanwhile, the stock’s valuation appears fundamentally attractive, with the share price implying 17.2% upside to the new fair value. 

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