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

Srinanaporn Marketing Public Company Limited / Equity Bottom-Up

Srinanaporn Marketing Public Company Limited (SNNP TB)

Srinanaporn Marketing Public Company Limited

<ul><li>We maintain our Outperform rating, with a fair value of Bt21.35.</li><li>Our valuation metrics suggest that the stock is attractive in terms of the fundamentals, both in the short and long term.</li><li>Meanwhile, the tactical view is neutral, with a high ROCE of 19-26% in 2023-25E.</li></ul>

We maintain our Outperform rating, with a fair value of Bt21.35.Our valuation metrics suggest that the stock is attractive in terms of the fundamentals, both in the short and long term.Meanwhile, the tactical view is neutral, with a high ROCE of 19-26% in 2023-25E.

Srinanaporn Marketing - 4Q23E Core Profit Projected to Grow 13% YoY and 8% QoQ