Fresh optimism on Sheng Siong, thanks to decent 3Q

SINGAPORE (Oct 27): DBS Vickers Securities is keeping its “buy” call on Sheng Siong Group with a higher target price of $1.19 from $1.18 previously, following the supermarket chain operator’s announcement yesterday of a 8% rise in 3Q earnings to $15.7 million.

(See also: Sheng Siong’s 3Q earnings up 8% on higher revenue and gross margins)

In a Thursday report, analysts Alfie Yeo and Andy Sim say they continue to like Sheng Siong for its earnings growth traction, efficient operations, strong ROE, and net cash balance sheet.

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