Although RHB has trimmed its earnings expectations on both companies on the back of lower margins and performance, the pace of demand and revenue expectations are still intact, Yeo points out.
RHB Bank Singapore analyst Alfie Yeo has maintained “overweight” on Singapore grocery retailers, with Sheng Siong (SGX:OV8
) as his top pick.
In his Sept 14 report, Yeo notes that RHB has “buy” calls on both Sheng Siong and DFI Retail Group (SGX:D01) as both have compelling valuations and earnings growth outlook.
