RHB Group Research analyst Jarick Seet has upgraded Sheng Siong to “trading buy” from “neutral” previously with a higher target price of $1.95 from $1.70.

The new target price is based on 23 times FY2021 price-to-earnings (P/E).

The upgrade comes as the multi-ministry taskforce announced the further tightening of community measures on May 14.


To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook