consumer

3 stocks to shop as local consumer sentiment remains benign: RHB

SINGAPORE (Apr 5): RHB Research is maintaining its sector “overweight” on consumer stocks although it cautions of benign consumer sentiment for 2019, with Singaporeans expected to spend more prudently amid an uncertain macroeconomic outlook.

In the research house’s view, consumer confidence peaked early last year due to improved wealth effect and strong GDP growth towards end-2017; it believes GDP growth will moderate this year while the property market decelerates.

RHB turns positive on Dairy Farm's valuations after selldown

SINGAPORE (Mar 20): RHB Research is upgrading its call on Dairy Farm from “neutral” to “buy” despite lowering its target price to US$8.25 from US$8.64 previously with the view that long-term investors may look to accumulate the stock at its current low.

Intensifying competition, economic slowdown may drag on Sheng Siong's growth: Maybank KE

SINGAPORE (Mar 19): Maybank Kim Eng is starting coverage on Sheng Siong Group (SSG) at “sell” with a  target price of 95 cents, which implies 19.5 times FY19F P/E – 1 S.D. below the stocks’ five-year mean.

The research house’s estimates for FY19-20E new-store sales and same-store sales (SSS) contributions are currently below that of the street. It is also forecasting for only four and two new store openings for FY19 and FY20E, respectively, compared to the 10 new stores SSG opened in 2018.

Sheng Siong retains crown as top consumer pick after new store wins

SINGAPORE (Aug 20): RHB Research is highlighting Sheng Siong Group (SSG) as its top consumer cyclical “buy” pick with a higher target price of $1.30 compared to $1.27 previously, upon raising 2019-2020F earnings by 2-3% on larger-than-expected retail space.

This comes after the group announced two new stores last Friday, bringing its total store count up to 52 from 44, in line with the research house’s full-year forecast and marking the “highest store win in history”, in RHB’s view.  

BreadTalk gets too pricey for RHB's taste; FY18 earnings projected to decline

SINGAPORE (Aug 3): RHB Research is downgrading its call on BreadTalk to “sell” from “neutral” with a lower target price of $1 compared to $1.04 previously, as the research house expects FY18F earnings to decline on rising overhead costs and weaker JV & associates performance.

Sheng Siong likely to see stellar FY19F as growth momentum continues: DBS

SINGAPORE (July 31): DBS Group Research is maintaining its “buy” call on Sheng Siong Group (SSG) with a higher target price of $1.26, implying 25 times FY19F earnings.

The valuation is pegged at +1 standard deviation (SD) point of SSG’s historical mean valuation since listing, and below regional peers’ average of 26 times earnings.

See: Sheng Siong posts 6.3% rise in 2Q earnings to $17.2 mil on higher sales

Dairy Farm posts 6% growth in 1H earnings to $306.2 mil on higher sales

SINGAPORE (July 26): Dairy Farm International (DFI), a member of the Jardine Matheson Group, announced earnings of US$225 million ($306.2 million) for the half-year ended June, up 6% from its 1H17 restated earnings of US$212 million a year ago on higher consolidated sales.  

An unchanged interim dividend of 6.5 US cents per share has been declared for the period under review.

How the global consumer landscape is set to change over the next 2-3 years: KPMG

SINGAPORE (June 14): By 2020, the consumer and retail industry landscape is likely to see an emergence of new business models, fewer physical stores, and more companies distributing their products through owned channels.

Such trends are suggested by the findings of KPMG International’s sixth edition of the Global Consumer Executive Top of Mind survey, which was conducted in partnership ith The Consumer Goods Forum (CGF) and released in conjunction with the annual CGF Global Summit, which is held in Singapore from June 12-15 this year.

Hyphens Pharma's public offering 152 times subscribed

SINGAPORE (May 17): Hyphens Pharma International says its public offering of 3 million shares at 26 cents per share in conjunction with its Catalist listing was about 152 times subscribed.

At its close at 12 noon on Wednesday, applications for nearly 456 million public offer shares were received.

Of the 23.8 million placement shares, indications of interest were received for 324.7 million placement shares. This resulted in all 2.8 million reserved shares under the placement being allotted.

Sheng Siong downgraded by brokers after recent rally, but outlook remains positive

SINGAPORE (May 2): UOB and Phillip Capital are downgrading their calls on Sheng Siong Group from their previous “buy” calls to “hold” and “accumulate”, respectively, with target prices of $1.09 and $1.13 after the group’s recent stock price run-up  of around 10% over the last two months.

Meanwhile, OCBC and Maybank continues to rate Sheng Siong at “buy” with a fair value and price target of $1.12 and $1.20, respectively.

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

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