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

Somboon Advance Technology P / Equity Bottom-Up

<ul><li>We maintain an Outperform rating, as earnings for this year should have bottomed out in 2Q24E.</li><li>The stock price has 7% upside to our new fair value following the downward earnings revision to reflect the weaker-than-expected auto market, while the tactical view also shows very limited downside.</li><li>In addition, long-term earnings are expected to grow more steadily given the low base in 2024E.</li></ul>

We maintain an Outperform rating, as earnings for this year should have bottomed out in 2Q24E.The stock price has 7% upside to our new fair value following the downward earnings revision to reflect the weaker-than-expected auto market, while the tactical view also shows very limited downside.In addition, long-term earnings are expected to grow more steadily given the low base in 2024E.

Somboon Advance Technology - Nearing the Turning Point