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>KTX switches our rating to Buy, with a fair value of Bt11.88, based on the earnings yield and a required rate of return of 3.6% (vs. Outperform; FV of Bt14.12 and a required rate of return of 2.84% previously).</li><li>The valuation metrics recommend a buy thanks to the fundamental factors (the share price has fallen to reflect the lower 1Q24 core profit both YoY and QoQ).</li><li>Meanwhile, the long-term outlook is strong, with expected three-year earnings growth at an 18% CAGR, and the tactical downside risk is limited.</li></ul>

KTX switches our rating to Buy, with a fair value of Bt11.88, based on the earnings yield and a required rate of return of 3.6% (vs. Outperform; FV of Bt14.12 and a required rate of return of 2.84% previously).The valuation metrics recommend a buy thanks to the fundamental factors (the share price has fallen to reflect the lower 1Q24 core profit both YoY and QoQ).Meanwhile, the long-term outlook is strong, with expected three-year earnings growth at an 18% CAGR, and the tactical downside risk is limited.

R&B Food Supply - 1Q24 Net Profit Growth at 17% YoY and 24% QoQ

R&B Food Supply PCL

R&B Food Supply - 1Q24 Net Profit Growth at 17% YoY and 24% QoQ