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 our Outperform rating with a new 12M FWD fair value of Bt7.80, based on a required return of 5.2%, reflecting a PER of 19.2x.</li><li>This implies a PEG ratio of 0.9x, based on an EPS CAGR of 20.9% over 2025-27E.</li><li>Although OKJ’s earnings growth has slowed more than previously expected, we remain positive on the stock.</li></ul>

We maintain our Outperform rating with a new 12M FWD fair value of Bt7.80, based on a required return of 5.2%, reflecting a PER of 19.2x.This implies a PEG ratio of 0.9x, based on an EPS CAGR of 20.9% over 2025-27E.Although OKJ’s earnings growth has slowed more than previously expected, we remain positive on the stock.

Pluk Phak Praw Rak Mae - Dragged Down by Consumption Doldrums

Ohhaju

Pluk Phak Praw Rak Mae - Dragged Down by Consumption Doldrums