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

Thai Foods Group Public Company Limited / Equity Bottom-Up

Thai Foods Group Public Company Limited (TFG TB)

<ul><li>TFG’s retail business serves as its flagship, supporting both sales growth and margin expansion through the group’s retail channels.</li><li>KTX has raised our fair value estimate to Bt6.50, based on the earnings yield method with a required return of 18.4% (previously Bt6.30 with a required return of 18.3%).</li><li>Based on our valuation metrics, we maintain an “Outperform” rating from a fundamental perspective (with 20% upside to the share price), while our tactical view remains neutral.</li></ul>

TFG’s retail business serves as its flagship, supporting both sales growth and margin expansion through the group’s retail channels.KTX has raised our fair value estimate to Bt6.50, based on the earnings yield method with a required return of 18.4% (previously Bt6.30 with a required return of 18.3%).Based on our valuation metrics, we maintain an “Outperform” rating from a fundamental perspective (with 20% upside to the share price), while our tactical view remains neutral.

THAIFOODS GROUP Plc. (TFG): 2025–27E Earnings Raised 17% P.A....