Shares & Derivatives
SHENG SIONG STOCK: MY VIEWS
By Singapore Stocks Investing (SSI)  •  October 31, 2017
Dear readers, Sheng Siong Group stock closed at $0.94 yesterday after announcing that the Group posted a 25.7% increase in earnings in its 3Q17 results. CIMB is maintaining its “hold” call on Sheng Siong with a higher target price of $0.98. Meanwhile, UOB and Philip Capital are giving target prices of $1.06 and $1.13 respectively on the stock. The analyst reports which I have read highlight the need for Sheng Siong to continue to secure new supermarket sites for growth, amidst the intense supermarket competition on online and offline. I would think that while Sheng Siong’s business is a defensive one and a easy one to understand, the current supermarket competition is such that FairPrice continues to dominate the scene. And even if with FairPrice being the obvious supermarket leader and if there is still enough of a pie for Sheng Siong’s business ......
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By Singapore Stocks Investing (SSI)
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