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 initiate our coverage on WHA with an Outperform rating and a 12M FV at Bt5.60, based on a required rate of return of 6.2% (reflecting the PER target of 16.0x).</li><li>We have a bullish view on both the fundamentals and long-term earnings growth prospects, while the tactical downside risk is very limited.</li><li>Presales are expected to be high at 2.4k thanks to continued relocations of production bases after the US raised import tariffs. </li></ul>

We initiate our coverage on WHA with an Outperform rating and a 12M FV at Bt5.60, based on a required rate of return of 6.2% (reflecting the PER target of 16.0x).We have a bullish view on both the fundamentals and long-term earnings growth prospects, while the tactical downside risk is very limited.Presales are expected to be high at 2.4k thanks to continued relocations of production bases after the US raised import tariffs. 

Wha Corporation - Continued Relocations of Production Bases

WHA Corp Pcl

Wha Corporation - Continued Relocations of Production Bases