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 Line / Equity Bottom-Up

<ul><li>We maintain our Neutral rating on RCL, while revising our 12-month forward fair value to Bt33.00 (from Bt24.40).</li><li>The current share price implies 6% upside to our fair value of Bt33.00, based on a required return of 14.53%, reflecting a target PER of 6.9x.</li><li>RCL’s operating outlook is expected to soften from the upward cycle in 2024.</li></ul>

We maintain our Neutral rating on RCL, while revising our 12-month forward fair value to Bt33.00 (from Bt24.40).The current share price implies 6% upside to our fair value of Bt33.00, based on a required return of 14.53%, reflecting a target PER of 6.9x.RCL’s operating outlook is expected to soften from the upward cycle in 2024.

REGIONAL CONTAINER LINES - Upbeat 2Q25 Earnings