Home Capital Broker's Calls

PhillipCapital upgrades Sheng Siong to 'buy' while other analysts lower TPs

Felicia Tan
Felicia Tan11/2/2021 05:30 PM GMT+08  • 6 min read
PhillipCapital upgrades Sheng Siong to 'buy' while other analysts lower TPs
Most of the analysts estimate that the group will see normalised earnings in the FY2022 as regular economic activities resume.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

PhillipCapital analyst Paul Chew has upgraded his recommendation on the Sheng Siong Group to “buy” from “accumulate” with an unchanged target price of $1.69.

“Sheng Siong Group enjoys [an] attractive return on equities (ROEs) of 25%, dividend yields at 3.2% and net cash at $215 million (as at September 2021),” he writes in a Nov 1 report.

To Chew, the upgrade comes amid the group’s recent share price weakness, which he deems as an opportunity to buy into the stock.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now