SINGAPORE (Feb 24): Phillip Capital is maintaining its “accumulate” recommendation on supermarket operator Sheng Siong with a higher target price of $1.41, from $1.32 previously.

This came on the back of the group recording a 7% y-o-y rise in FY19 earnings to $75.7 million. But for the 4Q19 period, earnings were dipped slightly by 0.8% y-o-y to $17.4 million.

See: Sheng Siong posts 7% rise in FY19 earnings to $75.7 mil despite 4Q dip

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