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>Our rating is shifted to Neutral (from Outperform) given that its long-term growth outlook looks weaker than the industry.</li><li>EPS growth is projected at a -0.6% CAGR in 2024-26E, compared to the industry average of +6.4%, due to a high base effect.</li><li>The tactical outlook has also weakened to neutral (from limited downside risk previously).</li></ul>

Our rating is shifted to Neutral (from Outperform) given that its long-term growth outlook looks weaker than the industry.EPS growth is projected at a -0.6% CAGR in 2024-26E, compared to the industry average of +6.4%, due to a high base effect.The tactical outlook has also weakened to neutral (from limited downside risk previously).

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