News Formal

Broker's take: Maybank Kim Eng initiates coverage on Sheng Siong with 'sell'

  • 📰 BusinessTimes
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 51%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

BROKERAGE Maybank Kim Eng has initiated coverage on Sheng Siong Group with a 'sell' recommendation and a target price of S$0.95, saying the supermarket chain will not be immune to a slowdown in consumer spending amid an anticipated economic deceleration. Read more at The Business Times.

BROKERAGE Maybank Kim Eng has initiated coverage on Sheng Siong Group with a"sell" recommendation and a target price of S$0.95, saying the supermarket chain will not be immune to a slowdown in consumer spending amid an anticipated economic deceleration.

Rising e-commerce competition that supermarket players face, and changing dining habits in Singapore that have seen an increased frequency of home-delivered cooked meals, continue to be challenges for supermarket operators, said Maybank Kim Eng.Market voices on: Sheng Siong's store rollout is also dependent on the availability of Housing and Development Board housing sites, said the analyst.

Maybank Kim Eng acknowledged that its forecast is more conservative than street estimates on new-store sales and same-stores-sales contributions for FY2019-2020.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 15. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Broker's take: Citi Research downgrades SGX to 'sell' as HKSE's China futures contract product may curb profitsCITI Research has downgraded its call on bourse operator Singapore Exchange (SGX) to 'sell' and lowered its target price from S$7.80 to S$7.00 on the Hong Kong Stock Exchange's (HKSE) plans to introduce MSCI China A Index futures, which could eat into demand for SGX's China A50 Index futures. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Broker's take: CGS-CIMB downgrades Japfa to 'reduce' after African swine fever outbreakCGS-CIMB has downgraded its call on Japfa to 'reduce' from 'add', and cut its target price for the stock to 63 Singapore cents from 90 cents, saying that the agri-food player faces more downside in the longer term. This comes despite the market already pricing in the effects of the African swine fever (ASF) outbreak in Vietnam, the brokerage said. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »