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 targets 3.5% CAGR petroleum sales growth in 2026–30E, similar to the 2025–29E plan, supported by sustaining core projects and advancing development projects.</li><li>We maintain a Neutral rating and trim 2026 FV to Bt115 (from Bt120) based on a 12.3% required return (Rf 1.23%, MRP 5.61%).</li><li>With the updated 5-year expenditure and sales volume plans, lower Dubai crude prices, and a higher unit cost of USD29–30/bbl, we cut 2025–27E net profit by 14%, 12%, and 4%.</li></ul>

PTTEP targets 3.5% CAGR petroleum sales growth in 2026–30E, similar to the 2025–29E plan, supported by sustaining core projects and advancing development projects.We maintain a Neutral rating and trim 2026 FV to Bt115 (from Bt120) based on a 12.3% required return (Rf 1.23%, MRP 5.61%).With the updated 5-year expenditure and sales volume plans, lower Dubai crude prices, and a higher unit cost of USD29–30/bbl, we cut 2025–27E net profit by 14%, 12%, and 4%.

PTT Exploration And Production Plc. (PTTEP): 5-Year Petroleum Sale Volume & Expenditure Plan

PTT E&P

PTT Exploration And Production Plc. (PTTEP): 5-Year Petroleum Sale Volume & Expenditure Plan