Monday, April 27, 2015

Sheng Siong kept at 'add' by CIMB with higher target price of 89 cents

Stock Name: Sheng Siong
Company Name: SHENG SIONG GROUP LTD
Research House: CIMBPrice Call: BUYTarget Price: 0.89



SINGAPORE (Apr 27): CIMB Research has raised FY15-FY17 earnings per share forecasts for Sheng Siong Group on higher gross margins assumptions.

Target price for the supermarket retail group was also revised higher to 89 cents from 84 cents previously.

CIMB Research said Sheng Siong's revenue is expected to be driven by five new stores, with three of the stores due to be open by June this year. The other two stores were opened in December 2014 and January 2015.

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