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 Buy call, with a new fair value of Bt24.31 vs. Bt26.39 previously, following the downward revisions of our 2024-26E earnings forecasts.</li><li>Our fair value is based on a required rate of return of 4.7%.</li><li>The valuation metrics indicate that the stock is fundamentally attractive, both in terms of the valuation and the strong long-term growth prospects, alongside limited tactical downside risk.</li></ul>

We maintain our Buy call, with a new fair value of Bt24.31 vs. Bt26.39 previously, following the downward revisions of our 2024-26E earnings forecasts.Our fair value is based on a required rate of return of 4.7%.The valuation metrics indicate that the stock is fundamentally attractive, both in terms of the valuation and the strong long-term growth prospects, alongside limited tactical downside risk.

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