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, with the resistance at 1,404/1,410 points (200-day EMA) and the support at 1,395/1,388 points.</li><li>We recommend gradually taking profit at the resistance levels to reduce risks associated with the closure of December derivatives contracts, which will expire this Friday (foreign investors retain a short position).</li><li>Recommended stocks with positive momentum: GPSC, AAV, and CPF.</li></ul>

Technically, the SET Index is expected to move sideways, with the resistance at 1,404/1,410 points (200-day EMA) and the support at 1,395/1,388 points.We recommend gradually taking profit at the resistance levels to reduce risks associated with the closure of December derivatives contracts, which will expire this Friday (foreign investors retain a short position).Recommended stocks with positive momentum: GPSC, AAV, and CPF.

Krungthai XSpring Zoom Eng. December 26, 2024

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.

<ul><li>Synopsys reported a strong performance for its fourth quarter and fiscal year 2024, achieving record revenue and earnings.</li><li>The company crossed the $6 billion revenue mark, with a 15% year over-year increase, driven by its strategic focus on high-growth segments like AI, silicon proliferation, and software-defined systems.</li><li>Synopsys has expanded its bottom line significantly, with EPS growing at a 24% CAGR over the past five years.</li></ul>

Synopsys reported a strong performance for its fourth quarter and fiscal year 2024, achieving record revenue and earnings.The company crossed the $6 billion revenue mark, with a 15% year over-year increase, driven by its strategic focus on high-growth segments like AI, silicon proliferation, and software-defined systems.Synopsys has expanded its bottom line significantly, with EPS growing at a 24% CAGR over the past five years.

Synopsys Inc.: How Is It Tackling The China Market & Dealing With Macro Uncertainties? - Major Drivers

<ul><li>Synopsys, Inc. (Synopsys) reported robust financial results for the third quarter of the fiscal year 2024, surpassing the midpoint of all guidance targets and achieving a quarterly revenue record.</li><li>The company’s revenue increased by 13% year-over-year, aligning with the upper range of their projections.</li><li>Non-GAAP operating margin improved by 3.6 points year-over-year to 40%, and non-GAAP EPS rose by 27% year-over year, also exceeding guidance.</li></ul>

Synopsys, Inc. (Synopsys) reported robust financial results for the third quarter of the fiscal year 2024, surpassing the midpoint of all guidance targets and achieving a quarterly revenue record.The company’s revenue increased by 13% year-over-year, aligning with the upper range of their projections.Non-GAAP operating margin improved by 3.6 points year-over-year to 40%, and non-GAAP EPS rose by 27% year-over year, also exceeding guidance.

Synopsys Inc.: How Are They Becoming A Comprehensive Silicon-To-Software-To-Systems Provider! - Major Drivers

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/altium-ltd" target="_blank" data-smartkarma-citation="entities:18626:1" rel="noopener">Altium Ltd (ALU AU)</a> IE considers <a href="https://www.smartkarma.com/entities/renesas-electronics-corp" target="_blank" data-smartkarma-citation="entities:15933:1" rel="noopener">Renesas Electronics (6723 JP)</a>’ A$68.50 scheme offer fair and reasonable as it is above the midpoint of the A$62.37 to A$70.27 valuation range. </li>
<li>The offer is conditional on remaining regulatory approvals (FIRB, CFIUS) and shareholder approval. </li>
<li>The offer price is attractive and 31% above the all-time high. At the last close and for the 1 August payment, the gross/annualised spread was 1.7%/11.6%.</li>
</ul>


The Altium Ltd (ALU AU) IE considers Renesas Electronics (6723 JP)’ A$68.50 scheme offer fair and reasonable as it is above the midpoint of the A$62.37 to A$70.27 valuation range. 
The offer is conditional on remaining regulatory approvals (FIRB, CFIUS) and shareholder approval. 
The offer price is attractive and 31% above the all-time high. At the last close and for the 1 August payment, the gross/annualised spread was 1.7%/11.6%.


<ul><li>In Q2 2024, Synopsys's revenue increased by 15% year over year, aligning it with the high-end expectations of its guided range.</li><li>The non-GAAP operating margin also rose by roughly three points to 37.3%, with non-GAAP EPS increasing by 26% year over year.</li><li>These exceeding outcomes have prompted Synopsys to raise its full-year revenue and non-GAAP EPS guidance.</li></ul>

In Q2 2024, Synopsys's revenue increased by 15% year over year, aligning it with the high-end expectations of its guided range.The non-GAAP operating margin also rose by roughly three points to 37.3%, with non-GAAP EPS increasing by 26% year over year.These exceeding outcomes have prompted Synopsys to raise its full-year revenue and non-GAAP EPS guidance.

Synopsys Inc.:  Continued Momentum in Core Business & AI Investments Paying Off? - Major Drivers

United States

Synopsys, Inc. supplies electronic design automation solutions to the global electronics market.  The Company provides design technologies to creators of advanced integrated circuits, electronic systems, and systems on a chip. Synopsys also provides consulting services and support to its customers to streamline the overall design process and accelerate time to market.

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Synopsys Inc (SNPS US)

Krungthai XSpring Zoom Eng. December 26, 2024

Technically, the SET Index is expected to move sideways, with the resistance at 1,404/1,410 points (200-day EMA) and the support at 1,395/1,388...

Krungthai XSpring

Synopsys Inc.: How Is It Tackling The China Market & Dealing With Macro Uncertainties? - Major Drivers

Synopsys reported a strong performance for its fourth quarter and fiscal year 2024, achieving record revenue and earnings. The company crossed the...

Baptista Research

Synopsys Inc.: How Are They Becoming A Comprehensive Silicon-To-Software-To-Systems Provider! - Major Drivers

Synopsys, Inc. (Synopsys) reported robust financial results for the third quarter of the fiscal year 2024, surpassing the midpoint of all guidance...

Baptista Research

Altium (ALU AU): Scheme Vote on 12 July

The offer price is attractive and 31% above the all-time high. At the last close and for the 1 August payment, the gross/annualised spread was 1.7%...

Arun George

Synopsys Inc.: Continued Momentum in Core Business & AI Investments Paying Off? - Major Drivers

In Q2 2024, Synopsys's revenue increased by 15% year over year, aligning it with the high-end expectations of its guided range. The non-GAAP...

Baptista Research

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