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Steady start to FY18 keeps Sheng Siong firmly at 'buy'

Michelle Zhu
Michelle Zhu4/30/2018 10:10 AM GMT+08  • 3 min read
Steady start to FY18 keeps Sheng Siong firmly at 'buy'
SINGAPORE (Apr 30): RHB, OCBC and DBS are maintaining their “buy” calls on Sheng Siong Group with target prices of $1.18, $1.06 and $1.21, respectively, after the supermarket operator posted a set of 1Q18 results which came in line with all three rese
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SINGAPORE (Apr 30): RHB, OCBC and DBS are maintaining their “buy” calls on Sheng Siong Group with target prices of $1.18, $1.06 and $1.21, respectively, after the supermarket operator posted a set of 1Q18 results which came in line with all three research houses’ expectations.


See: Sheng Siong posts 6.6% rise in 1Q earnings to $18.3 mil

In a Monday report, RHB analyst Juliana Cai highlights Sheng Siong as a “clear beneficiary of the recovering consumer sentiment in Singapore”, and says she believes the group could deliver stronger results over the next three quarters now that two more outlets will be opened in 2Q18.

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