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>We maintain an Outperform rating with a new 12-month fair value (12M FV) of Bt10.00 (previously Bt13.50), following a 13-15% downward revision to the earnings forecasts.</li><li>The valuation is based on the earnings yield method, using a required return of 7.9% (previously 7.0%).</li><li>ASK remains fundamentally attractive, with the share price implying 22% upside to its fair value of Bt10.00.</li></ul>

We maintain an Outperform rating with a new 12-month fair value (12M FV) of Bt10.00 (previously Bt13.50), following a 13-15% downward revision to the earnings forecasts.The valuation is based on the earnings yield method, using a required return of 7.9% (previously 7.0%).ASK remains fundamentally attractive, with the share price implying 22% upside to its fair value of Bt10.00.

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