RHB is keeping its “buy” call on Sheng Siong with a target price of $1.18.
SINGAPORE (May 21): RHB Research says low-cost supermarket chain Sheng Siong Group is its top pick among the consumer retail staples, amid recovering consumer sentiment on the back of improving job prospects and economic growth in Singapore.
“We have slight preference for Sheng Siong on its strong execution track record, high sales mix in fresh food, improving market share in Singapore and potential for gross margin expansion with the distribution centre extension coming up,” says analyst Juliana Cai in a report on Monday.
