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 upgrade our rating to “Outperform” from “Neutral,” with a revised 12M forward fair value (FV) of Bt5.25, based on a required return of 20.9% and implying a PER of 4.8x (previously Bt5.38, based on a required return of 20.7%).</li><li>We lower our FV to reflect earnings downgrades; however, the stock still offers 8% upside to our revised FV. NER remains a key beneficiary of the strong rubber price outlook.</li><li>We believe NER’s share price remains relatively laggard despite Iran-related supply tightness in synthetic rubber.</li></ul>

We upgrade our rating to “Outperform” from “Neutral,” with a revised 12M forward fair value (FV) of Bt5.25, based on a required return of 20.9% and implying a PER of 4.8x (previously Bt5.38, based on a required return of 20.7%).We lower our FV to reflect earnings downgrades; however, the stock still offers 8% upside to our revised FV. NER remains a key beneficiary of the strong rubber price outlook.We believe NER’s share price remains relatively laggard despite Iran-related supply tightness in synthetic rubber.

NORTH EAST RUBBER Plc.: Share Price Lags Rubber Prices And Peers

North East Rubber

NORTH EAST RUBBER Plc.: Share Price Lags Rubber Prices And Peers