Sheng Siong Likely to Benefit From More New-Store Openings -- Market Talk

Dow Jones

03-04

0212 GMT - Sheng Siong Group's growth is set to be driven by a larger store network, RHB Singapore's Alfie Yeo says in a note. The supermarket-chain operator's 2024 performance was within estimates, with growth led by new stores and same-store-sales expansion, the analyst says. Sheng Siong is awaiting tender results for additional new outlets, he notes. RHB likes the Singapore-listed company for its earnings growth momentum, attractive valuation, strong cash-flow generation, stable balance sheet and good dividend payout. It has a buy rating on the stock and a target price of S$1.98. Shares are 0.6% higher at S$1.65. (amanda.lee@wsj.com)

(END) Dow Jones Newswires

March 03, 2025 21:12 ET (02:12 GMT)

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