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 maintain Outperform rating with a new fair value of Bt26.80 (from Bt33.00), based on a required return of 11.04% (from 9.4%), following an adjustment to the beta assessment period under revised macro assumptions: Rf at 1.47% and MRP at 5.26% (previously 1.48% and 6.83%).</li><li>The current share price still offers about 18% upside to the new fair value, while the company’s long-term growth remains below the industry average due to a loan portfolio with low growth potential.</li><li>Meanwhile, the tactical upside risk appears limited</li></ul>

We maintain Outperform rating with a new fair value of Bt26.80 (from Bt33.00), based on a required return of 11.04% (from 9.4%), following an adjustment to the beta assessment period under revised macro assumptions: Rf at 1.47% and MRP at 5.26% (previously 1.48% and 6.83%).The current share price still offers about 18% upside to the new fair value, while the company’s long-term growth remains below the industry average due to a loan portfolio with low growth potential.Meanwhile, the tactical upside risk appears limited

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