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 an Outperform rating on MASTER.</li><li>The sharp decline in the stock price yesterday following the news about the big lot transaction enhances its investment attractiveness in terms of the valuation, with huge upside of 69% compared to the 2025E fair value of Bt54.76, based on a required return of 3.7%.</li><li>The tactical outlook has also improved to limited downside risk (previously neutral) after the gap between the stock price and fair value narrowed to approach the average -1.5 S.D.</li></ul>

We maintain an Outperform rating on MASTER.The sharp decline in the stock price yesterday following the news about the big lot transaction enhances its investment attractiveness in terms of the valuation, with huge upside of 69% compared to the 2025E fair value of Bt54.76, based on a required return of 3.7%.The tactical outlook has also improved to limited downside risk (previously neutral) after the gap between the stock price and fair value narrowed to approach the average -1.5 S.D.

Master Style - Panic Selling Presents a Good Investment Opportunity