Sheng Siong Group Set to Benefit from Resilient Consumer Demand
Dow Jones08-07
0152 GMT - Sheng Siong Group stands to benefit from resilient consumer demand for groceries, OCBC Group Research's Chu Peng says in a note. Consumers are increasingly prioritizing value-for-money purchases amid elevated living costs, the analyst says. This trend, together with consumption vouchers issued by the government, is expected to benefit the supermarket chain operator, the analyst says. OCBC raises the stock's fair value estimate to 3.41 Singapore dollars from S$3.26, with unchanged hold rating. Sheng Siong's shares are 0.9% higher at S$3.24.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments