0728 GMT - Sheng Siong Group may benefit from more new-store openings, DBS Group Research analysts say in a research report. The supermarket chain operator has secured four out of five recent tenders awarded by Singapore's Housing & Development Board, the analysts note. It has also secured two private sites, which enables expansion into new catchment areas at lower risk, as rental terms are more favorable than those of new HDB estates, the analysts add. DBS raises its 2026 earnings estimate for Sheng Siong by 2.5% on more new-store openings for 2025. It lifts the stock's target price to S$2.00 from S$1.90 with an unchanged buy rating. Shares are 1.85% higher at S$1.76. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 02, 2025 03:28 ET (07:28 GMT)
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