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>We initiate our coverage on PORT with a Buy call and a 2021E target price of Bt3.00 (20x PER).</li><li>Our call is underpinned by projected 2021-22E earnings growth at a 39% CAGR, driven by the potential recovery of containers serviced volume.</li><li>Meanwhile, at the current share price, PORT is expected to offer a dividend yield of 4% in 2021-22E.</li></ul>

We initiate our coverage on PORT with a Buy call and a 2021E target price of Bt3.00 (20x PER).Our call is underpinned by projected 2021-22E earnings growth at a 39% CAGR, driven by the potential recovery of containers serviced volume.Meanwhile, at the current share price, PORT is expected to offer a dividend yield of 4% in 2021-22E.

Strategic Location & One-Stop Service the Key Attractions

Japan

Mitsui O.S.K. Lines, Ltd. provides marine transportation, warehousing, and cargo handling services.  The Company operates container ship, specialized carrier, oil tankers, and ferry.  Items transported include coal, iron ore, grain, logs, aluminum, cement, industrial salt, copper ore, wood chips, paper products, chemical products, gasoline and other petroleum products, LPG, and other cargoes.

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Mitsui O.S.K. Lines (9104 JP)

Strategic Location & One-Stop Service the Key Attractions

We initiate our coverage on PORT with a Buy call and a 2021E target price of Bt3.00 (20x PER). Our call is underpinned by projected 2021-22E...

Krungthai XSpring

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52-week Range

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