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 maintains a Neutral rating, with a fair value of Bt3.61, based on the earnings yield and a required rate of return of 7.6%.</li><li>Although the valuation metrics suggest that the share price is fully valued, the long-term earnings prospects are strong, with an expected earnings turnaround.</li><li>Meanwhile, the tactical downside risk is limited.</li></ul>

KTX maintains a Neutral rating, with a fair value of Bt3.61, based on the earnings yield and a required rate of return of 7.6%.Although the valuation metrics suggest that the share price is fully valued, the long-term earnings prospects are strong, with an expected earnings turnaround.Meanwhile, the tactical downside risk is limited.

Thaifoods Group -Expect Earnings Turnaround in 1Q24E from Loss in 4Q23