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 maintain an Outperform rating with a 12M fair value of Bt117.44, based on the earnings yield and a required return of 11.7%.</li>
<li>The valuation metrics suggest that the share price implies upside compared to the fair value of 15.7%.</li>
<li>Meanwhile, the tactical risk is very limited, and the long-term earnings prospects are neutral.</li>
</ul>


We maintain an Outperform rating with a 12M fair value of Bt117.44, based on the earnings yield and a required return of 11.7%.
The valuation metrics suggest that the share price implies upside compared to the fair value of 15.7%.
Meanwhile, the tactical risk is very limited, and the long-term earnings prospects are neutral.


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