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 upgrade our rating to Neutral, reflecting a wider 6% upside to our revised 12M FWD fair value of Bt15.00.</li><li>We view the US hydropower expansion as strategically positive but neutral on earnings upside, adding ~102 MWe equity capacity (+2.7%) in the ISO-NE market.</li><li>The key upside driver for the 12M fair value would be a lower risk-free rate (Rf), which would support higher investment returns on power projects that are inherently highly leveraged.</li></ul>

We upgrade our rating to Neutral, reflecting a wider 6% upside to our revised 12M FWD fair value of Bt15.00.We view the US hydropower expansion as strategically positive but neutral on earnings upside, adding ~102 MWe equity capacity (+2.7%) in the ISO-NE market.The key upside driver for the 12M fair value would be a lower risk-free rate (Rf), which would support higher investment returns on power projects that are inherently highly leveraged.

B.GRIMM Power Plc. (BGRIM): US Hydropower Added, But Limited Upside In First 3 Years

B.Grimm Power

B.GRIMM Power Plc. (BGRIM): US Hydropower Added, But Limited Upside In First 3 Years