Several stocks are coming off their pandemic highs. While they may not see a record growth year anytime soon, analysts believe that thanks to inflation, these stocks will remain to be relevant and still have room to grow.
One such stock would be supermarket operator Sheng Siong Group, which was the beneficiary of panic buying across the country as consumers raced to stock up on groceries as they prepared for the lockdown and feared leaving the house.
In the past 12 months, shares in Sheng Siong are trading flat at $1.57 on July 5 but is trading 7.5% higher year to date. The panic buying has indeed stopped and shelves at the supermarkets are well stocked but DBS is still positive on the company’s outlook as the reality of inflationary pressures is likely to set in for consumers.