0211 GMT - Sheng Siong Group's earnings growth is likely supported by network expansion and a boost from government vouchers, DBS Group Research analysts say in a research report. Having opened six new stores in 2024, with plans to open ten more in 2025, the supermarket chain operator's network expansion will drive its revenue and margins over next 2-3 years, the analysts say. The Singapore-listed company should also benefit from S$1.1 billion worth of 'SG60' vouchers to mark Singapore's 60th year of independence, to be distributed next month, boosting industry-wide demand. DBS raises the stock's target price to S$2.30 from S$2.00 with an unchanged buy rating. Shares are unchanged at S$1.85. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
June 10, 2025 22:11 ET (02:11 GMT)
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