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 downgrade our rating to Neutral from Outperform.</li><li>While the valuation matrix suggests that the current valuation is undervalued, we have a neutral view on both the tactical and long-term growth outlooks.</li><li>We have derived a fair value of Bt21.60, based on a required rate of return of 10.8% and the equity risk premium (ERP) assessed through the multiple regression model, in which the economic parameters and the specific factors of the stock (auto output) were used.</li></ul>

We downgrade our rating to Neutral from Outperform.While the valuation matrix suggests that the current valuation is undervalued, we have a neutral view on both the tactical and long-term growth outlooks.We have derived a fair value of Bt21.60, based on a required rate of return of 10.8% and the equity risk premium (ERP) assessed through the multiple regression model, in which the economic parameters and the specific factors of the stock (auto output) were used.

Somboon Advance Technology - Solid Fundamentals but No Excitement