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

<ul><li>Technically, the SET Index is expected to move sideways down, with the support at 1,461/1,455 points (25-day EMA) and the resistance at 1,475 points (10-day EMA)/1,483 points.</li><li>In the short term, the 15-minute chart signaled a continued decline for the third consecutive day, but there is still a chance for a new round of upward movement if the index does not drop below the key support at 1,455/1,450 points.</li><li>We recommend selling on rallies and buying at the support.</li></ul>

Technically, the SET Index is expected to move sideways down, with the support at 1,461/1,455 points (25-day EMA) and the resistance at 1,475 points (10-day EMA)/1,483 points.In the short term, the 15-minute chart signaled a continued decline for the third consecutive day, but there is still a chance for a new round of upward movement if the index does not drop below the key support at 1,455/1,450 points.We recommend selling on rallies and buying at the support.

Manufacturing, Services, and Composite PMIs in October for Japan, the EU, and the US

Equity Long-Short Analyst

Pyari Menon

<ul>
<li>With its <a href="https://www.smartkarma.com/entities/danaher-corp" target="_blank" data-smartkarma-citation="entities:8243:1" rel="noopener">Danaher Corp (DHR US)</a> heritage, <a href="https://www.smartkarma.com/entities/veralto-corp" target="_blank" data-smartkarma-citation="entities:40472:1" rel="noopener">Veralto (VLTO US)</a> has built a foundation based on durable and recurring sales growth, high profitability, and strong cash generation.</li>
<li>Veralto's products and services are mission-critical yet account for less than 1% of client costs, leading to high switching costs and ensuring customer retention and financial resilience through economic cycles.</li>
<li>Veralto holds market leadership in both its Water Quality (WQ) and Product Quality &amp; Innovation (PQI) segments, which positions it well for the increasing regulatory and environmental demands. .</li>
</ul>


With its Danaher Corp (DHR US) heritage, Veralto (VLTO US) has built a foundation based on durable and recurring sales growth, high profitability, and strong cash generation.
Veralto's products and services are mission-critical yet account for less than 1% of client costs, leading to high switching costs and ensuring customer retention and financial resilience through economic cycles.
Veralto holds market leadership in both its Water Quality (WQ) and Product Quality &amp; Innovation (PQI) segments, which positions it well for the increasing regulatory and environmental demands. .


Veralto: The Power of Customer Dependency and Recurring Revenue

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Honeywell International / Equity Bottom-Up

<ul><li>Honeywell International Inc. delivered a mixed performance in its second quarter 2024 earnings, highlighting strengths in certain strategic areas while facing challenges in others.</li><li>The company's earnings per share (EPS) and adjusted EPS exceeded guidance, and it achieved the upper range of its organic sales guidance, reflecting a robust operational execution across its diversified portfolio.</li><li>From a financial perspective, Honeywell saw strong organic growth, particularly in its aerospace sector, which remains a key driver of its overall performance.</li></ul>

Honeywell International Inc. delivered a mixed performance in its second quarter 2024 earnings, highlighting strengths in certain strategic areas while facing challenges in others.The company's earnings per share (EPS) and adjusted EPS exceeded guidance, and it achieved the upper range of its organic sales guidance, reflecting a robust operational execution across its diversified portfolio.From a financial perspective, Honeywell saw strong organic growth, particularly in its aerospace sector, which remains a key driver of its overall performance.

Honeywell International: Portfolio Optimization & Acquisitions With An Emphasis on Long-Cycle Business Growth! - Major Drivers

<ul><li>Honeywell International Inc.'s first-quarter 2024 earnings reveals consistent growth in the company, exceeding its adjusted earning per share guidance and organic sales targets.</li><li>Despite the dynamic macroeconomic environment, the robust execution of Honeywell's Accelerator operating system and the company's diversified technology portfolio has led to significant performance gains.</li><li>With recovery in key areas of Honeywell's short-cycle portfolio and sustained growth in its long-cycle Aerospace and energy businesses, the company demonstrates a positive momentum in its financial results.</li></ul>

Honeywell International Inc.'s first-quarter 2024 earnings reveals consistent growth in the company, exceeding its adjusted earning per share guidance and organic sales targets.Despite the dynamic macroeconomic environment, the robust execution of Honeywell's Accelerator operating system and the company's diversified technology portfolio has led to significant performance gains.With recovery in key areas of Honeywell's short-cycle portfolio and sustained growth in its long-cycle Aerospace and energy businesses, the company demonstrates a positive momentum in its financial results.

Honeywell International: Will Their Improved Performance In Energy and Sustainability Solutions (ESS) Expected To Propel Their Growth? - Major Drivers

<ul><li>The fourth quarter 2023 earnings for Honeywell International took place in a dynamic backdrop; the company delivered on its 2023 commitments despite this.</li><li>Honeywell's Accelerator operating system and differentiated technologies allowed it to meet the full year guidance for organic growth, adjusted earnings per share, and free cash flow.</li><li>As a result of leadership changes, Vimal Kapur, CEO, has been elected to additionally serve as Chairman, starting from June after the current Executive Chairman, Darius Adamczyk, retires.</li></ul>

The fourth quarter 2023 earnings for Honeywell International took place in a dynamic backdrop; the company delivered on its 2023 commitments despite this.Honeywell's Accelerator operating system and differentiated technologies allowed it to meet the full year guidance for organic growth, adjusted earnings per share, and free cash flow.As a result of leadership changes, Vimal Kapur, CEO, has been elected to additionally serve as Chairman, starting from June after the current Executive Chairman, Darius Adamczyk, retires.

Honeywell International - Heavy Investment in Aerospace & Other Futuristic Strategies Propelling Them Forward! - Major Drivers

United States

Honeywell International Inc. is a worldwide diversified technology and manufacturing company providing aerospace products and services, control, sensing and security technologies, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions.

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Honeywell International (HON US)

Manufacturing, Services, and Composite PMIs in October for Japan, the EU, and the US

Technically, the SET Index is expected to move sideways down, with the support at 1,461/1,455 points (25-day EMA) and the resistance at 1,475...

Krungthai XSpring

Veralto: The Power of Customer Dependency and Recurring Revenue

Veralto's products and services are typically low cost but critical leading to high recurring sales, solid profitability and a leadership position...

Pyari Menon

Honeywell International: Portfolio Optimization & Acquisitions With An Emphasis on Long-Cycle Business Growth! - Major Drivers

Honeywell International Inc. delivered a mixed performance in its second quarter 2024 earnings, highlighting strengths in certain strategic areas...

Baptista Research

Honeywell International: Will Their Improved Performance In Energy and Sustainability Solutions (ESS) Expected To Propel Their Growth? - Major Drivers

Honeywell International Inc.'s first-quarter 2024 earnings reveals consistent growth in the company, exceeding its adjusted earning per share...

Baptista Research

Honeywell International - Heavy Investment in Aerospace & Other Futuristic Strategies Propelling Them Forward! - Major Drivers

The fourth quarter 2023 earnings for Honeywell International took place in a dynamic backdrop; the company delivered on its 2023 commitments...

Baptista Research

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