Sheng Siong Group's stock is soaring 3.05% in intraday trading, as investors react positively to analyst expectations of market share expansion and a strong store opening pipeline. The grocery retailer's shares are trading higher amid optimistic forecasts for its growth strategy.

According to CGS International analysts, Sheng Siong is poised to expand its market share through an aggressive store opening plan. The company could potentially bid for up to three supermarket sites in Singapore's public housing estates. Analysts are projecting 10 new store openings for FY 2025 and an additional five for FY 2026, signaling a robust expansion strategy.

While the costs associated with new store openings might impact FY 2025 earnings, analysts believe Sheng Siong's operating leverage and procurement capabilities will drive a 6% EPS compound annual growth rate over FY 2025-2027. This positive outlook has led CGS International to maintain its "add" rating on the stock and raise its target price to S$2.21 from S$1.90. The market's enthusiasm for Sheng Siong's growth prospects is reflected in today's significant stock price increase.