OCBC Group Research has downgraded its call on supermarket operator Sheng Siong (SGX:OV8
) to “hold” from “buy” previously, while raising its target price to $2.89 from $2.77 on a lower cost of equity assumption, pending further insights from Sheng Siong’s FY2025 results due on March 2.
Sheng Siong Group
Price target:
OCBC Group Research ‘hold’ $2.89
Downgrade on valuation
