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>Our valuation metrics suggest switching to a Buy rating (from Neutral) as the current share price implies significant upside of 58.4% compared to the new fair value of Bt47.51 (vs. Bt40.78 previously).</li><li>This is based on a required return of 9.6%, following the adjustments to our house view assumptions on the macroeconomic variables.</li><li>In addition, the share price has fallen by 22.2% since our last report on June 5, 2024. </li></ul>

Our valuation metrics suggest switching to a Buy rating (from Neutral) as the current share price implies significant upside of 58.4% compared to the new fair value of Bt47.51 (vs. Bt40.78 previously).This is based on a required return of 9.6%, following the adjustments to our house view assumptions on the macroeconomic variables.In addition, the share price has fallen by 22.2% since our last report on June 5, 2024. 

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