Sheng Siong Group - CGS-CIMB Research 2021-10-29: Good Times Coming To An End

Sheng Siong Group - Good Times Coming To An End

SHENG SIONG GROUP LTD (SGX:OV8) | SGinvestors.ioSHENG SIONG GROUP LTD (SGX:OV8)
  • Singapore’s continued tight mobility restrictions boosted Sheng Siong Group (SGX:OV8)’s 3Q21 results. Key positive was a continued uptrend in gross profit margin to a record 29.0%.
  • Ongoing mobility restrictions point to a strong 4Q, but we remain caution on elevated demand tapering off and threats from e-commerce in FY22F.
  • Reiterate HOLD call on Sheng Siong with a lower target price of S$1.50 (22x FY22F P/E) as we believe the near-term elevated demand has been priced in and see limited positive earnings catalysts in the near term.




Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.




ONG Khang Chuen CFA CGS-CIMB Research | Kenneth TAN CGS-CIMB Research | https://www.cgs-cimb.com 2021-10-29



Read also CGS-CIMB's most recent report:
2022-10-28 Sheng Siong Group - A Shelter In Times Of Uncertainty.

Previous report by CGS-CIMB:
2022-07-29 Sheng Siong - Another Quarter Of Record Gross Margin.

Price targets by 4 other brokers at Sheng Siong Target Prices.
Listing of research reports at Sheng Siong Analyst Reports.

Relevant links:
Sheng Siong Share Price History,
Sheng Siong Announcements,
Sheng Siong Dividends & Corporate Actions,
Sheng Siong News Articles















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