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 add CPALL to the portfolio to benefit from the expected unveiling of measures to stimulate domestic spending after the new government takes office.</li><li>In addition, the firm's 3Q23E earnings prospects are expected to remain bright, with the consensus estimate calling for net profit growth of 20.16% YoY to Bt4.41bn.</li><li>We recommend selling CK (as the stock has fallen out of our top rankings) and TCAP (as its earnings growth may fall below 5%).</li></ul>

We add CPALL to the portfolio to benefit from the expected unveiling of measures to stimulate domestic spending after the new government takes office.In addition, the firm's 3Q23E earnings prospects are expected to remain bright, with the consensus estimate calling for net profit growth of 20.16% YoY to Bt4.41bn.We recommend selling CK (as the stock has fallen out of our top rankings) and TCAP (as its earnings growth may fall below 5%).

CP ALL

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