Sheng Siong's Healthy Expansion Pipeline Should Support Long-Term Growth
Dow Jones08-04 09:42
0142 GMT - Sheng Siong's healthy expansion pipeline is likely to support its long-term growth, says Tang Kai Jie at UOB Kay Hian in a note. The Singapore grocery-store operator aims to open three new stores in 3Q, which lifts its 2026 confirmed new-store total to seven, above the company's target of three to five a year, the analyst says. The new stores should be able to mitigate two potential store closures this year on lease expiries, he adds. Sheng Siong's strong net cash position is also likely able to support its expansion strategy, he says. UOB KH raises the stock's target price to 3.71 Singapore dollars from S$3.40 and maintains a buy rating. Shares are down 0.6% at S$3.24.
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