Brokers' take

Sheng Siong Group (SSG) | Buy Target price: S$1.20 April 3 close: S$0.945 Maybank Kim Eng, April 2

EXCESSIVE concerns about e-commerce disruptions led to 12-month underperformance of 10 per cent against the Straits Times Index, despite its results resilience.

SSG continues to offer grocery-shopping convenience, focusing on fresh foods in densely-populated HDB estates, where more than 80 per cent of Singapore's residents reside.

We resume coverage with a Buy rating, expecting catalysts from: 1) further improvements in consumer spending; 2) SSG's further market-share wins from convenience stores and traditional market grocers; 3) a potential surge in new stores in 2018; and 4) contin…