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>PTTEP is a cyclical play whose share price has a strong correlation with crude oil prices at 80%.</li><li>The tensions in the Middle East could pose significant risks to oil supply and the share price should the situation escalate into a regional war.</li><li>Our valuation metrics suggest that the stock is attractive in terms of the current valuation, amid flat EPS growth in 2024- 26E, with limited upside in regard to the tactical risk.</li></ul>

PTTEP is a cyclical play whose share price has a strong correlation with crude oil prices at 80%.The tensions in the Middle East could pose significant risks to oil supply and the share price should the situation escalate into a regional war.Our valuation metrics suggest that the stock is attractive in terms of the current valuation, amid flat EPS growth in 2024- 26E, with limited upside in regard to the tactical risk.

Ptt Exploration and Production -In-Line NP in 1Q24 and Stronger Momentum in 2Q24E

PTT E&P

Ptt Exploration and Production -In-Line NP in 1Q24 and Stronger Momentum in 2Q24E