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 an Outperform rating, with a new fair value of Bt4.97 vs. Bt4.0 previously, based on the earnings yield and a required return of 9.2%, reflecting the target PER of 11x.</li><li>The valuation metrics suggest more attractive fundamentals and very limited tactical downside risk (vs. undervalued and a neutral tactical view previously).</li><li>But the long-term earnings prospects have been revised to steady, with an expected CAGR of 8%.</li></ul>

KTX maintains an Outperform rating, with a new fair value of Bt4.97 vs. Bt4.0 previously, based on the earnings yield and a required return of 9.2%, reflecting the target PER of 11x.The valuation metrics suggest more attractive fundamentals and very limited tactical downside risk (vs. undervalued and a neutral tactical view previously).But the long-term earnings prospects have been revised to steady, with an expected CAGR of 8%.

Thaifoods Group - Solid 3Q24E Earnings; 2024-26E Core Profit Forecasts Revised Up