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 have GFPT as our top pick for 2021E as the share price implies 13% upside to our target price of Bt16.00/share (vs. 15x PER).</li><li>The 2021E core profit is likely to grow by 22% YoY after the new machinery in the cooked chicken plant is installed.</li><li>In addition, Thai broiler exports are expected to increase by 3%, with possible upside if the Tokyo Olympics can be held in 2021E.</li></ul>

We have GFPT as our top pick for 2021E as the share price implies 13% upside to our target price of Bt16.00/share (vs. 15x PER).The 2021E core profit is likely to grow by 22% YoY after the new machinery in the cooked chicken plant is installed.In addition, Thai broiler exports are expected to increase by 3%, with possible upside if the Tokyo Olympics can be held in 2021E.

GFPT

GFPT Plc. (GFPT) Agribusiness