Sheng Siong's Growth Set to Be Driven by Strong Store Openings -- Market Talk

Dow Jones03-04 15:31

0731 GMT - Sheng Siong Group's growth is poised to be driven by strong openings of 12 new stores in 2025, RHB Research's Alfie Yeo says. The supermarket chain operator's same-store sales growth should accelerate in 2026 as the new stores are expected to contribute full 12-month earnings from this year. The outlook for new store openings remains buoyant, with four Housing & Development Board outlets pending bid results, three HDB outlets available for bidding and two HDB outlets expected for tender in 2H 2026. RHB Research raises the stock's target price to S$3.02 from S$2.72 to reflect a higher P/E valuation, with an unchanged buy rating. Shares are unchanged at S$2.61. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

March 04, 2026 02:31 ET (07:31 GMT)

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The outlook for new store openings remains buoyant, with four Housing &amp; Development Board outlets pending bid results, three HDB outlets available for bidding and two HDB outlets expected for tender in 2H 2026. RHB Research raises the stock's target price to S$3.02 from S$2.72 to reflect a higher P/E valuation, with an unchanged buy rating. Shares are unchanged at S$2.61. 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The supermarket chain operator's same-store sales growth should accelerate in 2026 as the new stores are expected to contribute full 12-month earnings from this year. The outlook for new store openings remains buoyant, with four Housing &amp; Development Board outlets pending bid results, three HDB outlets available for bidding and two HDB outlets expected for tender in 2H 2026. RHB Research raises the stock's target price to S$3.02 from S$2.72 to reflect a higher P/E valuation, with an unchanged buy rating. Shares are unchanged at S$2.61. 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