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>CPW's 3Q20 results recovered slightly slower than our expectation.</li><li>We, however, anticipate a big rebound in 4Q20E thanks to the solid lineup of new products, both from Apple and digital lifestyle products.</li><li>The stock is currently trading at 2020 PER of 18x, far below the 37x of COM7.</li></ul>

CPW's 3Q20 results recovered slightly slower than our expectation.We, however, anticipate a big rebound in 4Q20E thanks to the solid lineup of new products, both from Apple and digital lifestyle products.The stock is currently trading at 2020 PER of 18x, far below the 37x of COM7.

Slow 3Q20 Recovery; High Expectations for 4Q20E

Copperwired

Slow 3Q20 Recovery; High Expectations for 4Q20E