Sheng Siong's Revenue Seen Supported by Higher Consumer Spend, New Stores -- Market Talk

Dow Jones02-29

0437 GMT - Sheng Siong's revenue growth is likely to be supported by its plan to open new stores and increased consumer spending in Singapore this year, says RHB Research analyst Alfie Yeo in a note. The supermarket-chain operator is also likely to be a strong beneficiary of the government's recent budget measure to issue cash vouchers to certain households as consumers will be able to use these vouchers at the supermarkets, says Yeo. RHB lowers the stock's target to S$1.96 from S$1.99 and keeps a buy rating. Shares last down 0.6% at S$1.55.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

February 28, 2024 23:37 ET (04:37 GMT)

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