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 a Neutral rating. The valuation metrics show that the stock price exceeds its current fair value while the tactical view has been revised to very limited downside risk (upgraded from neutral).</li><li>Our neutral view on the long-term growth prospects remains unchanged.</li><li>KTX has lowered the fair value to Bt14.68, using the earnings yield method with a required return of 3.9% (from the FV of Bt15.37 previously, based on a required return of 3.7%).</li></ul>

KTX maintains a Neutral rating. The valuation metrics show that the stock price exceeds its current fair value while the tactical view has been revised to very limited downside risk (upgraded from neutral).Our neutral view on the long-term growth prospects remains unchanged.KTX has lowered the fair value to Bt14.68, using the earnings yield method with a required return of 3.9% (from the FV of Bt15.37 previously, based on a required return of 3.7%).

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