Sheng Siong's Store Openings Pipeline Looks Strong -- Market Talk

Dow Jones03-05 12:38

0438 GMT - Sheng Siong Group's store openings pipeline looks strong, with management remaining committed to its target of opening three to five new stores annually, UOB Kay Hian analysts say in a research report. For 2026, a new store at 11 Rivervale Crescent in Singapore has been secured by the supermarket chain operator, and is expected to commence operations in 3Q, the analysts note. Its store-network expansion visibility is backed by the company's active Housing & Development Board tender pipeline, with four stores awaiting results, three under bidding and two additional sites likely to be released in 2H. The brokerage raises the stock's target price to S$3.00 from S$2.50 to reflect a higher 2026 P/E valuation with an unchanged buy rating. Shares are 1.15% lower at S$2.59. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

March 04, 2026 23:38 ET (04:38 GMT)

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Its store-network expansion visibility is backed by the company's active Housing &amp; Development Board tender pipeline, with four stores awaiting results, three under bidding and two additional sites likely to be released in 2H. The brokerage raises the stock's target price to S$3.00 from S$2.50 to reflect a higher 2026 P/E valuation with an unchanged buy rating. Shares are 1.15% lower at S$2.59. 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For 2026, a new store at 11 Rivervale Crescent in Singapore has been secured by the supermarket chain operator, and is expected to commence operations in 3Q, the analysts note. Its store-network expansion visibility is backed by the company's active Housing &amp; Development Board tender pipeline, with four stores awaiting results, three under bidding and two additional sites likely to be released in 2H. The brokerage raises the stock's target price to S$3.00 from S$2.50 to reflect a higher 2026 P/E valuation with an unchanged buy rating. Shares are 1.15% lower at S$2.59. 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