Sheng Siong - OCBC Group Research 2026-02-09: Downgrade To HOLD On Valuation Grounds

• Sheng Siong (SGX:OV8) ended 2025 strongly, with its share price rising ~60% in 2025, significantly outperforming the 23% gain posted by the Straits Times Index (STI). The stock was among the top performers within the Singapore consumer companies under our coverage.
• - Read this at SGinvestors.io -
• While these drivers should continue into 2026, Sheng Siong’s valuations look demanding.

Demand for essential goods remained largely stable.

• - Read this at SGinvestors.io -
• For full-year 2025, retail sales growth reached 2.8% y-o-y, double the 1.4% pace in 2024 and the strongest since 2022 (10.7%).
• Looking ahead, OCBC Group Research expects retail sales to grow by 2-3% y-o-y in 2026, supported by a steady pipeline of new products and consumer experiences.

Valuation is stretched after strong rally.

• Read more at SGinvestors.io.

Above is an excerpt from a report by OCBC Group Research.
Clients of OCBC Securities may be the first to access the full PDF report @ https://www.iocbc.com/.

Previous report by OCBC:
2025-11-03 Sheng Siong - Expanding Footprint.

Price targets by 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 Dividend Payout Dates & Corporate Actions,
Sheng Siong News