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

Regional Container Lines / Equity Bottom-Up

<ul>
<li>We have put our earnings forecasts, rating, and target price under review (from Outperform rating with FV of Bt35.00, previously).</li>
<li>RCL reported 2Q26 net profit of Bt1.98bn (-1% YoY, +19% QoQ), 7% below Bloomberg Consensus, and core profit of Bt1.95bn (-4% YoY, +17% QoQ).</li>
<li>Earnings remained strong on higher freight rates despite relatively high fuel costs.</li>
</ul>


We have put our earnings forecasts, rating, and target price under review (from Outperform rating with FV of Bt35.00, previously).
RCL reported 2Q26 net profit of Bt1.98bn (-1% YoY, +19% QoQ), 7% below Bloomberg Consensus, and core profit of Bt1.95bn (-4% YoY, +17% QoQ).
Earnings remained strong on higher freight rates despite relatively high fuel costs.


REGIONAL CONTAINER LINES Plc. (RCL): Strong 2Q26 on Higher Freight Rates Despite Rising Fuel Costs