Sheng Siong Group Set to Benefit from Resilient Consumer Demand

Dow Jones
08/07

0152 GMT - Sheng Siong Group stands to benefit from resilient consumer demand for groceries, OCBC Group Research's Chu Peng says in a note. Consumers are increasingly prioritizing value-for-money purchases amid elevated living costs, the analyst says. This trend, together with consumption vouchers issued by the government, is expected to benefit the supermarket chain operator, the analyst says. OCBC raises the stock's fair value estimate to 3.41 Singapore dollars from S$3.26, with unchanged hold rating. Sheng Siong's shares are 0.9% higher at S$3.24.

 

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