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 a Buy rating but revise down the fair value to Bt18.39 vs. Bt20.66 previously to reflect a higher required rate of return to 12.1% (vs. 10.8% previously) after our house view on the market risk premium was raised.</li>
<li>The valuation metrics indicate that the stock is robust in all dimensions, including an attractive valuation based on the fundamentals.</li>
<li>ASK’s share price implies approximately 25% upside to the fair value, with limited tactical downside risk and strong earnings growth.</li>
</ul>


We maintain a Buy rating but revise down the fair value to Bt18.39 vs. Bt20.66 previously to reflect a higher required rate of return to 12.1% (vs. 10.8% previously) after our house view on the market risk premium was raised.
The valuation metrics indicate that the stock is robust in all dimensions, including an attractive valuation based on the fundamentals.
ASK’s share price implies approximately 25% upside to the fair value, with limited tactical downside risk and strong earnings growth.


Ask -Earnings Forecasts Revised Down to Reflect Surging Costs to Income

Asia Sermkij Leasing

Ask -Earnings Forecasts Revised Down to Reflect Surging Costs to Income