Having taken into account revised growth and margins estimates, OCBC, in its June 23 note, has raised its fair value for this stock to $1.99 from $1.89.
OCBC Investment Research has maintained its "hold" call on Sheng Siong Group (SGX:OV8
) , given the defensive nature of this stock amid rising inflation and slower economic growth.
The trade war, which has hurt other industries such as manufacturing, is also seen to have limited impact on Sheng Siong, besides some changes in shipping routes. Sheng Siong sources for most its goods from within Asia, notes OCBC.
