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

BTS Group Holdings PCL / Equity Bottom-Up

<ul><li>We maintain our earnings forecasts for BTS after the results announcement.</li><li>The short-term catalysts will come from the renewal of the Green Line mass transit contract (under consideration by the Cabinet), the new strategic investors in VGI, and the bidding results of the Orange Line Mass Transit project.</li><li>We maintain our Buy call for BTS, with the SOTP-based TP of Bt13.00.</li></ul>

We maintain our earnings forecasts for BTS after the results announcement.The short-term catalysts will come from the renewal of the Green Line mass transit contract (under consideration by the Cabinet), the new strategic investors in VGI, and the bidding results of the Orange Line Mass Transit project.We maintain our Buy call for BTS, with the SOTP-based TP of Bt13.00.

BTS Rail Mass Transit Growth Infrastructure Fund (BTSGIF TB)

BTS Rail Mass Transit Growth Infrastructure Fund

Earnings Improved From Previous Quarter - Buy (FY20/21E TP: Bt13.00)