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 Outperform rating is maintained, with a positive view on the differential between the current share price and the 12M fair value of Bt4.70 (based on a required return of 3.4%), offering 20% upside.</li><li>In addition, the performance over the next two years should show solid growth, with an expected EPS CAGR of +10%, slightly below the industry average of +14%.</li><li>The tactical view is neutral, as the current stock price is trading close to the 6-month historical average.</li></ul>

Our Outperform rating is maintained, with a positive view on the differential between the current share price and the 12M fair value of Bt4.70 (based on a required return of 3.4%), offering 20% upside.In addition, the performance over the next two years should show solid growth, with an expected EPS CAGR of +10%, slightly below the industry average of +14%.The tactical view is neutral, as the current stock price is trading close to the 6-month historical average.

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