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

Samart Aviation Solutions Public Co Ltd / Equity Bottom-Up

Samart Aviation Solutions Public Co Ltd (SAV TB)

<ul><li>We upgrade our rating to <strong>Outperform</strong> (from Neutral) as KTX's valuation metrics have improved across all dimensions.</li><li>The FV has been revised down due to an increase in the required return to 7.8% (from 6.2%).</li><li>The long-term growth outlook remains strong, supported by the earnings upcycle, with a 2-year profit projected at a CAGR of <strong>+7.3%</strong>, the highest among peers in the same industry.</li></ul>

We upgrade our rating to Outperform (from Neutral) as KTX's valuation metrics have improved across all dimensions.The FV has been revised down due to an increase in the required return to 7.8% (from 6.2%).The long-term growth outlook remains strong, supported by the earnings upcycle, with a 2-year profit projected at a CAGR of +7.3%, the highest among peers in the same industry.

Samart Aviation Solutions Public Co Ltd

Samart Aviation Solutions SAV