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

Srinanaporn Marketing Public Company Limited / Equity Bottom-Up

Srinanaporn Marketing Public Company Limited (SNNP TB)

Srinanaporn Marketing Public Company Limited

<ul><li>We maintain a neutral view on SNNP's 2Q24E earnings forecast, with some concerns about the year's earnings outlook if sales fall short of expectations, which could result in 10% downside risk to our 2024E forecast.</li><li>However, the recent decline in the share price has already factored in the sales outlook. Our valuation metrics suggest very limited tactical downside risk.</li><li>The fundamental aspect has been upgraded to a buy due to strong long-term earnings prospects. </li></ul>

We maintain a neutral view on SNNP's 2Q24E earnings forecast, with some concerns about the year's earnings outlook if sales fall short of expectations, which could result in 10% downside risk to our 2024E forecast.However, the recent decline in the share price has already factored in the sales outlook. Our valuation metrics suggest very limited tactical downside risk.The fundamental aspect has been upgraded to a buy due to strong long-term earnings prospects. 

Srinanaporn Marketing - 2Q24E Earnings Expected to Increase 4% YoY and QoQ