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 forward fair value of Bt7.10.</li><li>The current share price is about 8% below the fair value of Bt7.10, which is based on a required return of 4.0% and reflects a target PER of 24.8x.</li><li>US import tariff measures should help support demand for minor bulk carriers, which is PSL’s core business, while the company is also entering a seasonally strong period in September.</li></ul>

We maintain our Outperform rating with a new 12M forward fair value of Bt7.10.The current share price is about 8% below the fair value of Bt7.10, which is based on a required return of 4.0% and reflects a target PER of 24.8x.US import tariff measures should help support demand for minor bulk carriers, which is PSL’s core business, while the company is also entering a seasonally strong period in September.

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