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>The 2Q24 core profit beat our forecast. KTX remains bullish about the 2024E core profit growth outlook, which is expected to leap by 30% due to the stoppage of the loss realization from RL.</li><li>Consequently, the long-term earnings growth outlook is strong, with expected three-year earnings showing a 15% CAGR.</li><li>The share price implies upside of around 7%, while the tactical downside risk is limited. </li></ul>

The 2Q24 core profit beat our forecast. KTX remains bullish about the 2024E core profit growth outlook, which is expected to leap by 30% due to the stoppage of the loss realization from RL.Consequently, the long-term earnings growth outlook is strong, with expected three-year earnings showing a 15% CAGR.The share price implies upside of around 7%, while the tactical downside risk is limited. 

Thai Union Group - 2Q24 Core Profit Fell 10% YoY but Increased 35% QoQ