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Analysts keep 'buy' on Sheng Siong on 'exceptional margins'; CGS-CIMB and Citi upgrade to 'buy'

Felicia Tan
Felicia Tan8/1/2022 10:18 AM GMT+08  • 8 min read
Analysts keep 'buy' on Sheng Siong on 'exceptional margins'; CGS-CIMB and Citi upgrade to 'buy'
One of Sheng Siong's branches. Photo: Albert Chua/The Edge Singapore
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Analysts from CGS-CIMB Research, Citi Research, PhillipCapital, RHB Group Research, OCBC Investment Research and UOB Kay Hian are positive on Sheng Siong Group’s prospects after the supermarket operator saw its earnings improve for the 1HFY2022 ended June.

On July 28, the group reported earnings of $67.4 million, up 2.2% y-o-y in the half-year period despite revenue returning to more normalised levels before the pandemic.

CGS-CIMB upgrades to ‘buy’

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