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>We maintain our Outperform rating, with a new 12M fair value of Bt5.80 (vs. Bt5.60 previously), derived from the earnings yield method and a required rate of return at 6.1% following the adjustments to the beta in accordance with our revised macroeconomic assumptions based on our house view.</li><li>The valuation metrics suggest a strong fundamental outlook, favorable long-term earnings prospects, and a neutral tactical perspective.</li><li>The stock price dropped in June 2024 by 11% before rebounding by 4% MTD.</li></ul>

We maintain our Outperform rating, with a new 12M fair value of Bt5.80 (vs. Bt5.60 previously), derived from the earnings yield method and a required rate of return at 6.1% following the adjustments to the beta in accordance with our revised macroeconomic assumptions based on our house view.The valuation metrics suggest a strong fundamental outlook, favorable long-term earnings prospects, and a neutral tactical perspective.The stock price dropped in June 2024 by 11% before rebounding by 4% MTD.

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