Brokers' take

Sheng Siong Group | BUY Aug 20 close: S$1.11 Target price: S$1.30 RHB Research, Aug 20

Sheng Siong is our top pick in the Singapore consumer sector. We reiterate our "buy" call with a higher target price of S$1.30 from S$1.27 previously, implying a 19 per cent upside.

The group announced last Friday that it has signed another two new leases in Woodlands, which are expected to be operational this year. This brings total store wins to eight this year, and the group's total store count to 52 up from 44, in line with our forecast.