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>THCOM's 1Q20 results came in far above our estimate on effective cost control, which explains the 65% share price rally in the month of April.</li><li>Nevertheless, the outlook remains challenging due to the continuation of the declining revenue trend and the lack of clarity regarding its operational continuity.</li><li>We, thus, downgrade the rating to Sell, with the DCF-based target price of Bt3.20.</li></ul>

THCOM's 1Q20 results came in far above our estimate on effective cost control, which explains the 65% share price rally in the month of April.Nevertheless, the outlook remains challenging due to the continuation of the declining revenue trend and the lack of clarity regarding its operational continuity.We, thus, downgrade the rating to Sell, with the DCF-based target price of Bt3.20.

Earnings Turnaround in 1Q20 Was Priced In

Thaicom

Earnings Turnaround in 1Q20 Was Priced In