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

PTT Exploration & Production / Equity Bottom-Up

PTT Exploration & Production (PTTEP-SR SP)

<ul><li>We expect strong 2Q26E core and net profit growth.</li><li>We raise our 2026-28E core profit forecasts by 5-6% on lower effective tax rate and now forecast a 2-year core EPS CAGR of 3%.</li><li>Combined with a 6-7% dividend yield, we maintain Outperform rating.</li></ul>

We expect strong 2Q26E core and net profit growth.We raise our 2026-28E core profit forecasts by 5-6% on lower effective tax rate and now forecast a 2-year core EPS CAGR of 3%.Combined with a 6-7% dividend yield, we maintain Outperform rating.

PTT EXPLORATION AND PRODUCTION Plc. (PTTEP): Strong 2Q26E Earnings; Consistent Dividend Yield - Outperform (12M FWD Fair Value Bt154.00)