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 downgrade to a Neutral rating (from Outperform) after the stock price increased by 5.0% over the past month (compared to the SET’s -0.8%).</li><li>As a result, the tactical outlook has been adjusted to limited upside risk from the previous neutral.</li><li>Our new 12-month fair value (12M FV) is Bt2.37 (previously Bt2.25), based on the earnings yield method with a required return of 9.8% (previously 10.2%).</li></ul>

We downgrade to a Neutral rating (from Outperform) after the stock price increased by 5.0% over the past month (compared to the SET’s -0.8%).As a result, the tactical outlook has been adjusted to limited upside risk from the previous neutral.Our new 12-month fair value (12M FV) is Bt2.37 (previously Bt2.25), based on the earnings yield method with a required return of 9.8% (previously 10.2%).

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