0754 GMT - Sheng Siong Group's estimated earnings growth of 8% for 2024 and 5% for 2025 may beat consensus forecasts, DBS Group Research analysts say in a research report as they raise the stock's rating to buy from hold and the target price to S$1.80 from S$1.62. The supermarket chain operator may deliver above-norm 8% growth in 2024, mostly on gross margin expansion, lower utility costs and higher net interest income, the analysts say. The Singapore-listed company may post above-consensus 5% growth in 2025, thanks to continued gross-margin expansion and increase in new store count, the analysts say. With stabilizing operating costs, Sheng Siong's next growth driver will probably be new stores, the analysts add. Shares are 1.3% higher at S$1.55. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
October 01, 2024 03:54 ET (07:54 GMT)
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