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

Thai Foods Group Public Company Limited / Equity Bottom-Up

Thai Foods Group Public Company Limited (TFG TB)

<ul><li>KTX has upgraded our rating to Outperform (from Neutral), with the valuation metrics now reflecting a tactical view of limited downside risk (previously neutral) after the stock price decline of 6% over the past month.</li><li>The current fundamental value remains attractive, as the stock price has 20% upside from its fair value of Bt4.92 (using the earnings yield method with a required return of 9.4%, reflecting a target PER level of 11x).</li><li>The long-term growth outlook remains neutral, with 2-year profit growth projected at a CAGR of 8%.</li></ul>

KTX has upgraded our rating to Outperform (from Neutral), with the valuation metrics now reflecting a tactical view of limited downside risk (previously neutral) after the stock price decline of 6% over the past month.The current fundamental value remains attractive, as the stock price has 20% upside from its fair value of Bt4.92 (using the earnings yield method with a required return of 9.4%, reflecting a target PER level of 11x).The long-term growth outlook remains neutral, with 2-year profit growth projected at a CAGR of 8%.

Thaifoods Group - 3Q24 Core Profit Grew 557% YoY and 11% QoQ, Better than Expected