Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

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.

Equity Bottom-Up

PTT Exploration & Production / Equity Bottom-Up

<ul><li>The SET Index is expected to move sideways, with the support at 1,675/1,670 points and the resistance at 1,690/1,700 points.</li><li>Tactically, we recommend trading buy on laggard plays, of which foreign holdings have either not increased much or declined since 4Q22, such as those in the energy and finance sectors.</li><li>The decline in Thai bond yields has widened the earnings yield gap from 3.9% last week to 4.0%.</li></ul>

The SET Index is expected to move sideways, with the support at 1,675/1,670 points and the resistance at 1,690/1,700 points.Tactically, we recommend trading buy on laggard plays, of which foreign holdings have either not increased much or declined since 4Q22, such as those in the energy and finance sectors.The decline in Thai bond yields has widened the earnings yield gap from 3.9% last week to 4.0%.

<ul><li>The SET Index is expected to move sideways, with the resistance at 1,631/1,649 points and the support at 1,612 points (200-day EMA)/1,607 points (50-day EMA).</li><li>We recommend trading buy on CENTEL, THCOM and AP.</li><li>Today's momentum is slightly positive due to the possibility of a weaker USD if the Democrats lose the midterm election in the US.</li></ul>

The SET Index is expected to move sideways, with the resistance at 1,631/1,649 points and the support at 1,612 points (200-day EMA)/1,607 points (50-day EMA).We recommend trading buy on CENTEL, THCOM and AP.Today's momentum is slightly positive due to the possibility of a weaker USD if the Democrats lose the midterm election in the US.

<ul><li>We add SNC to our portfolio, as its earnings outlook seems to be brighter than previously expected.</li><li>The firm has revised up its revenue growth target from 10% to 30% after the 1H22 revenue grew by 54% YoY to Bt12bn.</li><li>There is upside risk to our 2022E earnings projection of Bt694mn (+9.12% YoY).</li></ul>

We add SNC to our portfolio, as its earnings outlook seems to be brighter than previously expected.The firm has revised up its revenue growth target from 10% to 30% after the 1H22 revenue grew by 54% YoY to Bt12bn.There is upside risk to our 2022E earnings projection of Bt694mn (+9.12% YoY).

Thailand

BBGI Public Company Limited is a Thailand-based holding company primarily involved in the production and distribution of bio-based products, including biofuels like ethanol and biodiesel, and high-value bio-based products for health and well-being. The company focuses on sustainable energy solutions and utilizes advanced biotechnology. Headquartered in Bangkok, Thailand, BBGI Public Company Limited was founded in 2018.

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BBGI (BBGI-R TB)

Market Outlook

The SET Index is expected to move sideways, with the support at 1,675/1,670 points and the resistance at 1,690/1,700 points. Tactically, we...

Krungthai XSpring

Market Outlook

The SET Index is expected to move sideways, with the resistance at 1,631/1,649 points and the support at 1,612 points (200-day EMA)/1,607 points...

Krungthai XSpring

Small Cap Top Picks

We add SNC to our portfolio, as its earnings outlook seems to be brighter than previously expected. The firm has revised up its revenue growth...

Krungthai XSpring

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