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 our Outperform rating with a fair value of Bt38.75, based on a required return of 3.5%.</li><li>We remain positive on the stock’s fundamentals, given the significant market price upside potential of +37%. At the same time, the tactical downside risk remains very limited.</li><li>Long-term growth for 2025-27E is projected at a +7% CAGR, lower than the industry average.</li></ul>

We maintain our Outperform rating with a fair value of Bt38.75, based on a required return of 3.5%.We remain positive on the stock’s fundamentals, given the significant market price upside potential of +37%. At the same time, the tactical downside risk remains very limited.Long-term growth for 2025-27E is projected at a +7% CAGR, lower than the industry average.

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