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>We switch to a Neutral rating (vs. Outperform previously).</li><li>The tactical view has become weaker in tandem with entering the slow growth mode as a result of the high base effect after profit hit record highs in 2023.</li><li>These factors have overshadowed the appealing valuation on a fundamental basis — the share price is trading at an earnings yield of 20% vs. the five-year average of 15%, alongside a dividend yield of 9%.</li></ul>

We switch to a Neutral rating (vs. Outperform previously).The tactical view has become weaker in tandem with entering the slow growth mode as a result of the high base effect after profit hit record highs in 2023.These factors have overshadowed the appealing valuation on a fundamental basis — the share price is trading at an earnings yield of 20% vs. the five-year average of 15%, alongside a dividend yield of 9%.

Sansiri - 1Q24E Earnings Outlook Remains on Track

Sansiri Public

Sansiri - 1Q24E Earnings Outlook Remains on Track