Sheng Siong Group May Gain as Consumers Look for Value -- Market Talk
Dow Jones05-27
0623 GMT - Sheng Siong Group could gain by offering consumers value-for-money products as the cost of living rises, UOB Kay Hian analysts John Cheong and Heidi Mo say in a note. Sustained inflationary pressures and the recent GST hike are likely to spur consumers towards more value-for-money purchases, they say. The supermarket-chain operator may also likely benefit from improved sales as consumers cut back on dining out, the analysts say. UOB KH keeps a buy rating on the stock, with a target price of S$1.88. Shares are 0.7% higher at S$1.51.(amanda.lee@wsj.com)
(END) Dow Jones Newswires
May 27, 2024 02:23 ET (06:23 GMT)
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