Room for Sheng Siong Group's Margins to Improve Further -- Market Talk

Dow Jones2022-08-01

0328 GMT - There's room for the Singapore-listed Sheng Siong Group's margins to improve further, driven by higher sales mix of fresh groceries and solid cost control, says Citi Research analyst Jame Osman in a research report. The supermarket chain operator's store network expansion should pick up, as the country's reopening of the economy drives a resumption in tenders for shop spaces, the analyst adds. Citi raises its FY 2022-2024 EPS estimates for Sheng Siong by 6%-23%. The bank also upgrades the stock's rating to buy from sell and increases its target price to S$1.79 from S$1.40. Shares are 1.25% higher at S$1.62. (ronnie.harui@wsj.com)

$(END)$ Dow Jones Newswires

July 31, 2022 23:28 ET (03:28 GMT)

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PrincessLow
2022-08-01
PrincessLow
Great !
PrincessLow
2022-08-01
PrincessLow
Great !

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