0155 GMT - Sheng Siong Group's store-opening outlook appears robust, UOB Kay Hian analysts say in a research report. The supermarket-chain operator opened two new stores in 1Q, leading to 2% on-year growth in its total retail area in Singapore, the analysts note. Also, the Singapore-listed company has secured six new locations. The expansion plans are in line with the management's strategy of seeking growth in areas without supermarket presence, the analysts add. The brokerage lifts its 2025-2027 earnings forecasts for Sheng Siong by around 3%. It raises the stock's target price to S$1.97 from S$1.92 with an unchanged buy rating. Shares are 1.1% higher at S$1.81. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 05, 2025 21:55 ET (01:55 GMT)
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