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>After attending PLANB's analyst meeting, we lower its earnings in 2020-22E, resulting in a slight cut to the DCF-based TP to Bt5.85 (vs. Bt6.00 previously).</li><li>Although the long-term earnings look bright, the potential net loss in 2Q20E and lingering uncertainty over the virus situation should continue to create risk.</li><li>We thus maintain our Hold rating for PLANB.</li></ul>

After attending PLANB's analyst meeting, we lower its earnings in 2020-22E, resulting in a slight cut to the DCF-based TP to Bt5.85 (vs. Bt6.00 previously).Although the long-term earnings look bright, the potential net loss in 2Q20E and lingering uncertainty over the virus situation should continue to create risk.We thus maintain our Hold rating for PLANB.

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