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 cut the company's 2020-21E estimates, making its earnings profile unexciting in the period.</li><li>Meanwhile, the company's growth prospects should fill the earnings gap in the medium to long term.</li><li>Given that the share price largely factors in its weak earnings, we maintain a Hold rating, with the rolled-over 2021E TP of Bt66.</li></ul>

We cut the company's 2020-21E estimates, making its earnings profile unexciting in the period.Meanwhile, the company's growth prospects should fill the earnings gap in the medium to long term.Given that the share price largely factors in its weak earnings, we maintain a Hold rating, with the rolled-over 2021E TP of Bt66.

Unexciting Earnings Profile; Growth Prospects Ahead

Ratch Group

Unexciting Earnings Profile; Growth Prospects Ahead