SINGAPORE (Feb 23): DBS and OCBC are maintaining their “buy” calls on Sheng Siong following the supermarket operator’s release of its latest 4Q results, which brings FY17 earnings to a total of $69.8 million, up 11.4% from $62.7 million in FY16.
See: Sheng Siong's 4Q earnings up 9.3% to $16.8 mil on higher revenue
DBS’ target price of $1.20 remains unchanged and based on a 25 times FY18F P/E, while OCBC has put its fair value on the stock under review pending Sheng Siong’s analyst briefing.
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