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

Sri Trang Agro Industry / Equity Bottom-Up

<ul><li>We initiate our coverage on STA with an Outperform rating and a 2025E fair value (FV) of Bt20.12, based on a required return of 6.58%, reflecting the target PER of 15.2x.</li><li>The valuation metrics indicate that the current stock price is attractive with 18% upside to our fair price; the earnings growth is steady at a 18% CAGR in 2024-26E; and the tactical parameters are neutral.</li><li>STA is a global player in the natural rubber and medical glove industry.</li></ul>

We initiate our coverage on STA with an Outperform rating and a 2025E fair value (FV) of Bt20.12, based on a required return of 6.58%, reflecting the target PER of 15.2x.The valuation metrics indicate that the current stock price is attractive with 18% upside to our fair price; the earnings growth is steady at a 18% CAGR in 2024-26E; and the tactical parameters are neutral.STA is a global player in the natural rubber and medical glove industry.

Sri Trang Agro-Industry - Stands to Benefit from Trump 2.0 Trade Policy