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>CPW's 2Q20 results remained in the black despite the closure of retail shops, but we cut its full-year forecast to reflect the anemic 1H20 results.</li><li>Our Buy rating, with the new TP of Bt2.46, is backed by the expected strong rebound in 2H2OE thanks to pent-up demand alongside its lineup of new products.</li><li>CPW announced a NP of merely Bt1.2mn in 2Q20, dropping 92% YoY.</li></ul>

CPW's 2Q20 results remained in the black despite the closure of retail shops, but we cut its full-year forecast to reflect the anemic 1H20 results.Our Buy rating, with the new TP of Bt2.46, is backed by the expected strong rebound in 2H2OE thanks to pent-up demand alongside its lineup of new products.CPW announced a NP of merely Bt1.2mn in 2Q20, dropping 92% YoY.

Copperwired

A Dull Quarter Amid the Lockdown